By Wendy Van Sickle
Columbus, Ohio, Aug. 10 – GS Finance Corp. priced $1 million of 0% autocallable buffered index-linked notes due Aug. 8, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a 10.7% call premium if the index closes at or above its initial level on Aug. 11, 2023.
If the notes are not called and the index finishes positive, the payout at maturity will be par plus 1.5 times the index gain.
If the index falls by up to 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 15%.
Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are the underwriters.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $1 million
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Maturity: | Aug. 8, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above its initial level, par plus 1.5 times the index return; if the index falls by up to 15%, par; otherwise, 1% loss for every 1% decline beyond 15%
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Call: | At par plus a 10.7% call premium if index closes at or above initial level on Aug. 11, 2023
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Initial level: | 4,151.94
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Pricing date: | Aug. 4
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Settlement date: | Aug. 9
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Underwriters: | Goldman Sachs & Co. LLC and Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 40057MUN7
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