Chicago, April 25 – GS Finance Corp. priced $363,000 of 0% autocallable contingent coupon ETF-linked notes due March 4, 2025 tied to the VanEck Gold Miners ETF and the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Investors will receive an annualized 13% coupon, payable monthly, when the closing level of each fund is above 80% of its initial level on the related observation date.
The notes will be automatically called at par if each ETF closes at or above its initial level on any monthly call observation date after six months.
At maturity, investors will receive par if neither fund closes below its 80% buffer level.
If either ETF falls by more than 20%, investors will be exposed to the lesser performing ETF’s decline beyond the 20% buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying ETFs: | VanEck Gold Miners ETF and SPDR S&P Metals & Mining ETF
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| Amount: | $363,000
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| Maturity: | March 4, 2025
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| Coupon: | 13% annual rate, payable monthly when the closing level of each fund is above its coupon barrier level on the related observation date
|
| Price: | Par
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| Payout at maturity: | Par if neither ETF closes below its buffer level; otherwise, exposure to losses of worst performing ETF beyond 20% buffer
|
| Call: | Automatically at par if each ETF closes at or above initial level on any monthly call observation date after six months
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| Initial levels: | $32.59 for gold, $52.84 for metals
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| Coupon barrier levels: | 80% of initial levels
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| Buffer levels: | 80% of initial levels
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| Pricing date: | May 25, 2022
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| Settlement date: | May 31, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 40057M2K4
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