Chicago, March 7 – GS Finance Corp. priced $710,000 of callable contingent coupon equity-linked notes due Jan. 18, 2023 linked to the common stock of CVS Health Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon if each index closes at or above its coupon barrier, 75% of its initial level, on the related observation date. The contingent coupon will be payable at an annual rate of 10.2% over the eight-month term of the notes. The first two coupons of $25.5 will be payable quarterly and the third, final coupon of $17 will payable two months after that.
The securities may be called at par on any quarterly determination date.
If the stock gains or ends at or above its 75% downside threshold, the payout at maturity will be par. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | CVS Health Corp.
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| Amount: | $710,000
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| Maturity: | Jan. 18, 2023
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| Coupon: | 10.2% annual rate, payable if each index closes at or above its coupon barrier, 75% of its initial level, on the related observation date; first two payments will be quarterly and third, final coupon payment will be two months after that
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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| Call option: | At par on any quarterly determination date
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| Initial level: | $97.48
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| Coupon barrier level: | 75% of initial level
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| Downside threshold: | 75% of initial level
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| Pricing date: | May 13, 2022
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| Settlement date: | May 18, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057LYK1
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