By Kiku Steinfeld
Chicago, Aug. 19 – GS Finance Corp. priced $1.14 million of autocallable contingent coupon equity-linked securities due Feb. 1, 2023 linked to the common stock of Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the coupon barrier price, 85% of the initial price, on a quarterly coupon determination date, the notes will pay a contingent coupon that quarter, for each $1,000 principal amount, equal to (i) the product of $46.50 times the number of coupon determination dates that have occurred up to and including the relevant coupon determination date minus (ii) the sum of all coupons previously paid, if any. The rate is equal to 18.6% per year.
The notes will be automatically called at par if the stock close at or above the initial share price on any quarterly call observation date.
If the final share price is greater than or equal to the 85% final barrier price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the stock price.
Goldman Sachs & Co. LLC is the agent and JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Meta Platforms, Inc.
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| Amount: | $1.14 million
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| Maturity: | Feb. 1, 2023
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| Coupon: | If the stock closes at or above the coupon barrier price on a quarterly coupon determination date, the notes will pay a contingent coupon that quarter equal to (i) the product of $46.50 (equivalent to 18.6% per year) times the number of coupon determination dates that have occurred up to and including the relevant coupon determination date minus (ii) the sum of all coupons previously paid, if any
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| Price: | Par
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| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par; otherwise, full exposure to decline in the stock
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| Call: | Automatically at par if stock closes at or above initial level on any quarterly call observation date
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| Initial share price: | $331.90
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| Coupon barrier level: | 85% of initial level
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| Final barrier level: | 85% of initial level
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1%
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| Cusip: | 40057KSL8
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