Published on 2/16/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $40,000 more callable contingent coupon notes on S&P 500
By William Gullotti
Buffalo, N.Y., Feb. 16 – GS Finance Corp. sold an additional $40,000 of callable contingent coupon index-linked notes due Oct. 4, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The additional notes are issued under the same cusip, following the same terms, as the initial offering and are likewise guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annualized rate of 6.65% if the index closes at or above its coupon barrier level, 80% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly potential redemption date, commencing in October 2023.
If the notes are not redeemed early, the payout will be par plus any final coupon.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes, add on
|
| Underlying indexes: | S&P 500 index
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| Amount: | $40,000
|
| Maturity: | Oct. 4, 2029
|
| Contingent coupon: | 6.65% per year, payable monthly if the index closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any
|
| Call option: | Par plus any coupon due on any quarterly potential redemption date commencing in October 2023
|
| Initial levels: | 3,585.62
|
| Coupon barrier level: | 80% of initial level
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 15
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4.125%
|
| Cusip: | 40057NDG9
|
| Total amount: | $1,728,000, including $1,688,000 million issued Oct. 4
|
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