Sequence settings for 120fps clips that won't be played in a 24fps timeline?

This is what has me confused. When I choose to Interpret the Footage, the first checkbox is "Use Frame Rate from File: 23.9760"

Does this mean the clip is already 24fps?

I shot it in slow motion and it plays back in slow motion when I drag it into the timeline.

I used a Sony A7S2 set to 120fps when I shot the clips. Did the camera somehow fake the slow motion? If so, does this mean nothing needs to be done in Premiere to the clips?

Thanks for your help.

What frame rate do they get exported at?

At the frame rate of the export settings, which should match the frame rate of the sequence.

do I need to interpret the footage before dragging them into a new sequence?

Yes.

southwestform  escribió I need to interpret the footage before dragging them into a new sequence?

Exact,

In the project panel, right-click, modify> Interpret footage set the fps of the sequence.

Here's a good, clear video on converting 120fps footage to 24fps.

How to convert 120 FPS footage to 24 FPS in Adobe Premiere Pro - YouTube

Now it's not exactly what you're after as it doesn't play in slow motion. To keep the slow motion, you could either:

- Drag the 120 footage into a 24 fps sequence, then adjust the speed/duration of the clip.

- Interpret footage before you drag the clip onto the sequence.

- Speed ramping - where you can put keyframes into your clip.

The above approaches are showing in the video below. It's not as concise as the first video but does demonstrate each fairly well.
Premiere Pro Slow Motion Tutorial - How to interpret 60fps/120fps - YouTube

To the last question - what frame rate does the video get exported at? Well, the default settings would match your sequence settings. However, you can change that when you're ready to export. So, just go through the regular process of exporting and adjust settings as required.

What have you tried so far and with what result?