By Kiku Steinfeld
Chicago, Feb. 2 – GS Finance Corp. priced $1.02 million of callable contingent coupon notes due Feb. 20, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annual rate of 12.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the related observation date.
The notes are callable at par on any monthly observation date starting May 2023.
If the notes are not called and the final level of each index is greater than or equal to the 70% barrier level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $1,017,000
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| Maturity: | Feb. 20, 2024
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| Coupon: | 12.5%, payable each month that each index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to 70% barrier, par; otherwise, exposure to lesser performer’s decline from initial level
|
| Call option: | At par on any monthly observation date starting May 2023
|
| Initial levels: | 3,719.89 for S&P, 1,779.730 for Russell
|
| Coupon barrier levels: | 70% of initial levels
|
| Buffer levels: | 70% of initial levels
|
| Pricing date: | Nov. 3, 2022
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| Settlement date: | Nov. 8, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 40057NRT6
|
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