Published on 7/1/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.43 million callable contingent coupon index-linked notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., July 1 – GS Finance Corp. priced $1.43 million of callable contingent coupon index-linked notes due June 29, 2027 tied to the S&P 500 index and the Russell 2000 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 at an annual rate of 5.5% if each index closes at or above the coupon trigger level, 50% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after one year.
Investors will receive no less than par at maturity, and if the worst performer finishes at or above 50% of its initial level, the payout will include the final coupon.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $1,431,000
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| Maturity: | June 29, 2027
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| Coupon: | 5.5% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If worst performer finishes at or above trigger buffer, par plus final coupon; otherwise, par
|
| Call: | At par plus any coupon due on any quarterly call observation date after one year
|
| Initial index levels: | 3,911.74 for S&P, 1,765.737 for Russell
|
| Trigger buffer levels: | 50% of initial levels
|
| Coupon trigger levels: | 50% of initial levels
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.58%
|
| Cusip: | 40057MFY0
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