GS Finance to price autocallable notes tied to SPDR S&P Bank ETF

By Emma Trincal

New York, July 27 – GS Finance Corp. plans to price 0% autocallable notes due Aug. 3, 2023 tied to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will be automatically called at par plus 9.7% if the ETF closes at or above its initial price on Aug. 12, 2022.

If the notes are not called and the final price of the ETF is at or above its initial price, the payout at maturity will be par plus double the return of the ETF.

If the ETF falls by up to 20%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the ETF from its initial price.

The final price will be the average of the ETF closing prices of the five trading days preceding the maturity date.

The notes will price on July 30 and settle on Aug. 4.

Goldman Sachs & Co. LLC is the agent.

The Cusip number is 40057HYY0.

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