Chicago, June 15 – GS Finance Corp. priced $400,000 of 0% bearish autocallable index-linked notes due June 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called if the index closes below its initial level on any observation date from Aug. 31, 2023 through May 31, 2024. The payment will be par plus a call premium. The call premium will be based on the call date and its distance from May 31, 2023. The number of days that have elapsed between May 31, 2023 and the call date will be divided by the number of trading days between May 31, 2023 and May 31, 2024. The quotient will be multiplied by 14%, and that figure will be the call premium.
If the notes are not called and the index finishes at or below initial level, the payout at maturity will be par plus 14%.
Investors will receive par if the index increases but finishes below its 115% trigger buffer level.
Otherwise, investors will lose 1% for each 1% increase.
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: | Bearish autocallable index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $400,000
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| Maturity: | June 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index finishes at or below initial level, par plus 14%; par if index increases but finishes below 115% of initial level; otherwise, lose 1% for every 1% gain from initial level
|
| Call: | Automatically at par plus a call premium if index closes below initial level on any trading day from Aug. 31, 2023 to May 31, 2024; call premium will be based on the number of trading days that have elapsed from May 31, 2023 to the call date out of the number of trading days between May 31, 2023 and May 31, 2024, times 14%
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| Initial level: | 4,179.83
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| Trigger buffer level: | 115% of initial level
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 40057RYT9
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