Chicago, Jan. 24 – GS Finance Corp. priced $500,000 of callable contingent coupon notes due April 28, 2025 linked to the S&P 500 index and the Dow Jones industrial average, 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 an annual rate of 5.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the related semiannual observation date.
The notes are callable at par on any semiannual observation date after one year.
If the notes are not called and the final level of each index is greater than or equal to the 71% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the 29% buffer.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | April 28, 2025
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| Coupon: | 5.5%, payable each six months that each index closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to 71% buffer, par; otherwise, exposure to lesser performer’s decline beyond 29% buffer
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| Call option: | At par on any semiannual observation date after one year
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| Initial levels: | 4,271.78 for S&P, 33,811.40 for Dow
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| Coupon barrier levels: | 70% of initial levels
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| Buffer levels: | 71% of initial levels
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| Pricing date: | April 22, 2022
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| Settlement date: | April 27, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057LT76
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