By Kiku Steinfeld
Chicago, Oct. 14 – GS Finance Corp. priced $955,000 of callable contingent coupon notes due July 28, 2026 linked to the least performing of the Nasdaq-100 index and the ARK Innovation exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annualized rate of 7% if each underlying asset closes at or above its coupon buffer level, 75% of its initial price, on the valuation date for that month.
The notes will be callable in whole at par on any quarterly call observation date after one year.
If each asset finishes at or above its buffer level, 80% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing asset beyond 20%.
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: | Callable contingent coupon notes
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| Underlying assets: | Nasdaq-100 index and ARK Innovation ETF
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| Amount: | $955,000
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| Maturity: | July 28, 2026
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| Contingent coupon: | 7% per year, payable monthly if each underlying asset closes at or above coupon barrier level on valuation date for that month
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above buffer level, par; otherwise, full exposure to losses of least-performing asset beyond 20%
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| Call option: | Callable at par on any quarterly call observation date after one year
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| Initial values: | 15,111.79 for index, $122.43 for ARK
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| Coupon barriers: | 75% of initial levels
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| Buffer levels: | 80% of initial levels
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| Pricing date: | July 23
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| Settlement date: | July 28
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057HWB2
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