Chicago, Jan. 24 – GS Finance Corp. priced $802,000 of callable contingent coupon ETF-linked notes due April 25, 2024 tied to the VanEck Gold Miners ETF, 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 12.1% if the ETF closes at or above the coupon trigger level, 70% of the initial level, on the relevant observation date.
The notes will be callable at par plus any coupon otherwise due on any quarterly observation date after six months.
If the notes are not called and the ETF finishes at or above 70% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will be exposed to the ETF’s decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon ETF-linked notes
|
| Underlying fund: | VanEck Gold Miners ETF
|
| Amount: | $802,000
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| Maturity: | April 25, 2024
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| Coupon: | 12.1% annualized rate, payable quarterly if the ETF closes at or above coupon trigger level, on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes at or above trigger buffer level, par plus final coupon; otherwise, 1% loss for every 1% decline from initial level
|
| Call option: | At par plus any coupon otherwise due on any quarterly observation date after six months
|
| Initial ETF level: | $36.94
|
| Trigger buffer level: | 70% of initial levels
|
| Coupon trigger level: | 70% of initial levels
|
| Pricing date: | April 22, 2022
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| Settlement date: | April 27, 2022
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 40057LU33
|
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