By William Gullotti
Buffalo, N.Y., Nov. 12 – GS Finance Corp. priced $400,000 of 0% autocallable ETF-linked notes due Aug. 3, 2023 tied to the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF closes at or above its initial level on Aug. 12, 2022, the notes will be called at par plus an 9.7% call premium.
If the notes are not called and the ETF finishes at or above its initial level, the payout will be par plus two times the ETF return.
If the ETF finishes above 80% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable ETF-linked notes
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| Underlying fund: | SPDR S&P Bank ETF
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| Amount: | $400,000
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| Maturity: | Aug. 3, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the ETF finishes at or above its initial level, par plus double the ETF return; if the ETF finishes at or above 80% of initial level, par; otherwise, 1% loss for every 1% decline from initial level
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| Call: | If the ETF closes at or above initial level on Aug. 12, 2022, notes will be called at par plus a 9.7% call premium
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| Initial ETF level: | $49.46
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| Trigger buffer level: | 80% of initial levels
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 40057HYY0
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