By Kiku Steinfeld
Chicago, July 20 – GS Finance Corp. priced $818,000 of callable contingent coupon index-linked notes due Feb. 22, 2028 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon if the index closes at or above the coupon trigger level, 80% of the initial level, on the quarterly valuation date for that period. The quarterly coupon starts at $12.50, increasing every four quarters to $15, to $18.75, to $17.50 and then to $20.
After one year, the notes will be callable at the option of the issuer on any quarterly valuation date at par plus any coupon otherwise due.
If the notes are not called, the payout will be par plus any final coupon.
Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $818,000
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| Maturity: | Feb. 22, 2028
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| Coupon: | Contingent coupon payable quarterly if index closes at or above coupon trigger level on relevant quarterly observation date; coupon starts at $12.50, increasing every four quarters to $15, to $18.75, to $17.50 and then to $20
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| Price: | Par
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| Payout at maturity: | If notes are not called, par plus any final coupon
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| Call option: | At par plus any coupon due on any quarterly review date after one year
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| Initial index level: | 4,090.41
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| Coupon trigger level: | 80% of initial level
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| Pricing date: | Feb. 16, 2023
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| Settlement date: | Feb. 22, 2023
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| Agents: | Goldman Sachs & Co. LLC and Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 40057PMK5
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