By Angela McDaniels
Tacoma, Wash., May 1 – GS Finance Corp. priced $281,000 of callable contingent coupon index-linked notes due June 4, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7% per year if the index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
Beginning in May 2024, the notes are callable quarterly at par.
The payout at maturity will be par unless the index finishes below its trigger buffer level, 70% of its initial level, in which case investors will be exposed to the index’s decline from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index
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| Amount: | $281,000
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| Maturity: | June 4, 2027
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| Coupon: | 7% per year, payable quarterly if index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below trigger buffer level, in which case investors will be exposed to index’s decline from initial level
|
| Call option: | Quarterly at par beginning in May 2024
|
| Initial levels: | 4,132.15
|
| Coupon barrier level: | 70% of initial level
|
| Trigger buffer level: | 70% of initial level
|
| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 40057LZA2
|
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