By William Gullotti
Buffalo, N.Y., Jan. 4 – GS Finance Corp. priced $2.68 million of autocallable contingent coupon ETF-linked notes due Feb. 6, 2023 tied to the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each ETF closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each ETF closes at or above its initial level on any monthly call observation date after six months.
If the notes have not been called, the payout at maturity will be par unless either ETF closes below its 75% trigger level during the life of the notes and either ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing ETF finishes below its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust
|
| Amount: | $2,679,000
|
| Maturity: | Feb. 6, 2023
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| Coupon: | 8% annualized rate, payable monthly if each ETF closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either ETF closes below its trigger level during the life of the notes and either ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing ETF finishes below its initial level
|
| Call: | At par plus coupon if each ETF closes at or above its initial level on any monthly call observation date after six months
|
| Initial ETF levels: | $401.61 for QQQ, $476.87 for SPDR
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| Trigger levels: | 75% of initial levels
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.15%
|
| Cusip: | 40057KHY2
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