By Kiku Steinfeld
Chicago, Feb. 2 – GS Finance Corp. priced $485,000 of callable contingent coupon equity-linked notes due July 10, 2023 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon if each index closes at or above its coupon barrier, 60% of its initial level, on the related observation date. The contingent coupon will be payable at an annual rate of 13.45% over the eight-month term of the notes. The first two coupons of $33.625 will be payable quarterly and the third, final coupon of $22.417 will payable two months after that.
If the stock gains or ends at or above its downside threshold, the payout at maturity will be par. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The securities may be called at par on any quarterly determination date starting in February 2023.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $485,000
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| Maturity: | July 10, 2023
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| Coupon: | 13.45% annual rate, payable if each index closes at or above its coupon barrier, 60% of its initial level, on the related observation date; first two payments will be quarterly and third, final coupon payment will be two months after that
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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| Call option: | At par on any quarterly determination date starting in February 2023
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| Initial level: | $92.12
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| Downside threshold: | 60% of initial level
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| Pricing date: | Nov. 2, 2022
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| Settlement date: | Nov. 7, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057NW60
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