GS · News · 20261103N

Capital Markets Activity

GOLDMAN SACHS GROUP INC · 2026-11-03 · Importance 30 · Surprise 50 · In source text

Goldman’s prime brokerage desk reported that October was the first month since it began tracking in 2016 in which both fundamental long-short and systematic hedge fund cohorts lost more than 3%. Fundamental long-short funds lost 3.5%, while systematic strategies fell 3.6%. Goldman’s clients were net sellers of global equities by the largest dollar amount in seven months, with long sales exceeding short sales four-to-one; the desk attributed this to de-risking rather than outright bearish conviction.

Key facts

• GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Buffered Basket-Linked Notes due November 9, 2028, which do not bear interest. source
• The notes' payments are tied to the performance of an equally weighted basket of six common stocks. source
• The notes have an automatic call feature if the basket's closing level is at least its initial level on November 19, 2027, resulting in a payment of at least $1,176.5 per $1,000 face amount. source
• If not called, maturity payment on the notes depends on basket return relative to a buffer level of 85% of the initial basket level, with potential for significant loss if the basket falls below the buffer. source

Impact estimates