By Angela McDaniels
Tacoma, Wash., May 31 – GS Finance Corp. priced $500,000 of autocallable contingent coupon equity-linked notes due April 13, 2023 linked to the common stock of Celsius Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon if the stock closes at or above its coupon trigger price, 50% of its initial share price, on the observation date for that quarter. The coupon will be equal to (i) the product of $60 (6% quarterly) times the number of coupon observation dates that have occurred up to and including the relevant coupon observation date minus (ii) the sum of all coupons previously paid, if any.
The notes will be called automatically at par if the stock closes at or above its initial share price on Oct. 7, 2022 or Jan. 9, 2023.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its trigger buffer price, 60% of its initial share price, in which case investors will be exposed to the stock’s decline from its initial share price.
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: | Celsius Holdings, Inc.
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| Amount: | $500,000
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| Maturity: | April 13, 2023
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| Coupon: | Each quarter, notes pay contingent coupon if stock closes at or above coupon trigger price on observation date for that quarter; coupon is equal to (i) product of $60 (6% quarterly) times number of coupon observation dates that have occurred up to and including relevant coupon observation date minus (ii) sum of all coupons previously paid, if any
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger buffer price, in which case investors will be exposed to stock’s decline from initial share price
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| Call: | Automatically at par if stock closes at or above initial share price on Oct. 7, 2022 or Jan. 9, 2023
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| Initial share price: | $77.45
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| Trigger buffer price: | 60% of initial share price
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| Coupon trigger price: | 50% of initial share price
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| Pricing date: | July 8, 2022
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| Settlement date: | July 12, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0%
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| Cusip: | 40057MNA3
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