By Angela McDaniels
Tacoma, Wash., May 1 – GS Finance Corp. priced $200,000 of autocallable contingent coupon equity-linked notes due June 5, 2024 linked to the common stock of Pfizer Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if the stock closes at or above its coupon threshold price, 70% of its initial share price, on the observation date for that quarter.
Beginning in December 2022, the notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its downside threshold price, 70% of its initial share price, in which case investors will be exposed to the stock’s decline.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Pfizer Inc.
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| Amount: | $200,000
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| Maturity: | June 5, 2024
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| Coupon: | 10% per year, payable quarterly if stock closes at or above coupon threshold price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below downside threshold price, in which case exposure to stock’s decline
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| Call: | Beginning in December 2022, automatically at par if stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $53.04
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| Coupon threshold price: | 70% of initial share price
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| Downside threshold price: | 70% of initial share price
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| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 40057M5N5
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