By Angela McDaniels
Tacoma, Wash., April 27 – GS Finance Corp. priced $558,000 of market-linked securities – autocallable with contingent coupon and contingent downside due May 30, 2025 linked to the iShares Silver trust and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 13% per year if each ETF closes at or above its coupon threshold price, 70% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par if each ETF closes at or above its initial share price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the lesser performing ETF finishes below its downside threshold price, 70% of its initial share price, in which case investors will be exposed to the decline of the lesser performing ETF.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying ETFs: | iShares Silver trust and the VanEck Gold Miners ETF
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| Amount: | $558,000
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| Maturity: | May 30, 2025
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| Coupon: | 13% per year, payable quarterly if each ETF closes at or above coupon threshold price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless lesser performing ETF finishes below downside threshold price, in which case exposure to decline of lesser performing ETF
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| Call: | Automatically at par if each ETF closes at or above initial share price on any quarterly observation date
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| Initial share prices: | $19.84 for silver ETF and $31.73 for gold ETF
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| Coupon threshold prices: | 70% of initial share prices
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| Downside threshold prices: | 70% of initial share prices
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| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Agents: | Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 2.125%
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| Cusip: | 40057LWT4
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