Published on 8/30/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.17 million callable contingent coupon notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Aug. 30 – GS Finance Corp. priced $1.17 million of callable contingent coupon notes due Jan. 26, 202 linked to the S&P 500 index, the Dow Jones industrial average 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.
Each six months, the notes pay a contingent coupon at a rate of 4.5% per year if each index closes at or above 60% of its initial level on the observation date for that period.
The notes are callable at par on any semiannual coupon payment date.
If the notes are not redeemed, the payout at maturity will be par plus the coupon, if any, unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000 and Dow Jones industrial average
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| Amount: | $1,168,000
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| Maturity: | Jan. 26, 2028
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| Coupon: | 4.5% per year; payable semiannually if each index closes at or above 60% of its initial level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus coupon, if any, unless any index finishes below 60% of initial level, in which case full exposure to loss of least performing index
|
| Call option: | At par on any semiannual coupon payment date
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| Initial index levels: | 34,265.37 for Dow, 1,987.918 for Russell, 4,397.94 for S&P
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| Barrier levels: | 60% of initial levels
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 40057KNW9
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