By Angela McDaniels
Tacoma, Wash., Nov. 16 – GS Finance Corp. priced $25,000 of autocallable contingent coupon index-linked notes due Nov. 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.5% per year if the index closes at or above 70% of its initial level on the observation date for that quarter.
Beginning in April 2023, the notes will be automatically called at par if the index closes at or above its initial level on any quarterly observation date.
If the final index level is at least 70% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.
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 index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $25,000
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| Maturity: | Nov. 5, 2025
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| Coupon: | 8.5% per year, payable quarterly if index closes at or above 70% of initial level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If final index level is at least 70% of initial index level, par; otherwise, 1% loss for every 1% that index declines from initial level
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| Call: | Beginning in April 2023, automatically at par if index closes at or above initial level on any quarterly observation date
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| Initial level: | 3,871.98
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| Barrier level: | 70% of initial level
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057NF85
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