By William Gullotti
Buffalo, N.Y., April 27 – GS Finance Corp. lowered the issue size of its index-linked notes due Jan. 26, 2026 linked to the performance of the S&P 500 index to $26,453,860, according to a 424B2 filing with the Securities and Exchange Commission.
The issuer previously reported issuing $26,454,000 principal amount of the notes.
The notes are guaranteed by Goldman Sachs Group, Inc.
As previously reported, the notes will pay a contingent monthly coupon up to and including January 2023 at 4.25% per annum if the index closes at or above its 85% trigger buffer level on every trading day during the relevant observation period. If the index closes below the trigger buffer level on any trading day, no coupon will be paid for that observation period or any subsequent coupon payment date. No coupons will be paid after January 2023.
The notes will be automatically called at par plus the final coupon if the index closes at or above its trigger buffer level on every trading day from and including Jan. 21 up to and including Jan. 23, 2023.
If the notes are not called, the payout at maturity will be par plus the index return plus an additional 15%. Investors will receive less than par if the index finishes below the trigger buffer level.
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: | Index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $26,453,860
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| Maturity: | Jan. 26, 2026
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| Coupon: | 4.25% per annum, payable monthly up to and including Jan. 23, 2023 if the index closes at or above the trigger buffer level on every trading day during the observation period; if the index closes below the trigger buffer level, no coupon will be paid on that or any subsequent coupon payment date; no coupons will be paid after January 2023
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| Price: | Par
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| Payout at maturity: | Par plus index return plus 15%
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| Call: | Automatically at par plus final coupon on Jan. 23, 2023 if every potential coupon is paid
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| Initial level: | 4,397.94
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| Trigger buffer level: | 85% of initial level
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057KUL5
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