By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – GS Finance Corp. priced $1.65 million index-linked notes due Jan. 12, 2026 linked to the performance of the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
For the first 11 months, holders will receive a monthly coupon at an annualized rate of 14.5%, 10% or 4.84% if the index closing level on every trading day up to the observation date that month is above 90%, 85% or 80% respectively.
The notes will be called at par if the index has closed at or above 95% of its initial level every day from Jan. 7, 2022 through Jan. 7, 2023.
At maturity, if the closing level of the index has been at least 90% of the initial level up through the final observation date, the payout will be the sum of (i) $1,000 plus (ii) the product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1111 times (d) the sum of the index return plus 10%.
If the closing level of the index has been lower than 85% but at least 80% of the initial level up through the final observation date, the payout will be the sum of (i) $1,000 plus (ii) the product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1765 times (d) the sum of the index return plus 5% plus (iii) the product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1111 times (d) the sum of the index return plus 10%.
If the closing level of the index has been lower than 80% of the initial level on any day up through the final observation date, the payout will be the sum of (i) $1,000 plus (ii) the product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1111 times (d) the sum of the index return plus 5% plus (iii) the product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1765 times (d) the sum of the index return plus 10% plus (iv) the product of (a) 1/3 times (b) $1,000 times (c) approximately 1.25 times (d) the sum of the index return plus 20%.
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: | Index-linked notes
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| Underlying index: | Euro Stoxx Banks index
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| Amount: | $1.65 million
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| Maturity: | Jan. 12, 2026
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| Coupon: | Monthly coupon for first 11 months at an annualized rate of 14.5%, 10% or 4.84% if index closing level on every trading day up to observation date that month is above 90%, 85% or 80% respectively
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| Price: | Par
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| Payout at maturity: | If closing level of index has been at least 85% of initial level up through final observation date, sum of (i) $1,000 plus (ii) product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1111 times (d) sum of index return plus 10%; if closing level of index has been lower than 85% but at least 80% of initial level up through final observation date, payout will be sum of (i) $1,000 plus (ii) product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1111 times (d) sum of index return plus 5% plus (iii) product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1765 times (d) sum of index return plus 15%; if closing level of index has been lower than 80% of initial level on any day up through final observation date, sum of (i) $1,000 plus (ii) product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1111 times (d) sum of index return plus 5% plus (iii) product of (a) 1/3 times (b) $1,000 times (c) approximately 1.1765 times (d) sum of index return plus 10% plus (iv) product of (a) 1/3 times (b) $1,000 times (c) approximately 1.25 times (d) sum of index return plus 20%
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| Initial level: | 107.1
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| Pricing date: | Jan. 7
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| Settlement date: | Jan. 12
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0%
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| Cusip: | 40057KNQ2
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