By William Gullotti
Buffalo, N.Y., April 13 – GS Finance Corp. priced $1.8 million of autocallable contingent coupon ETF-linked notes due April 5, 2028 tied to the SPDR S&P 500 ETF Trust and the SPDR Dow Jones Industrial Average ETF Trust, 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 monthly coupon at an annual rate of 6.7% if each ETF closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each ETF closes at or above its initial level on any quarterly call observation date starting September 2024.
If the notes are not called and each ETF finishes at or above 85% of initial value, the payout will be par plus the final coupon.
If any ETF falls by more than 15%, investors will lose 1% for every 1% decline of the worst performer below 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying ETFs: | SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average ETF Trust
|
| Amount: | $1,801,000
|
| Maturity: | April 5, 2028
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| Coupon: | 6.7% annualized rate, payable monthly if each ETF closes at or above coupon trigger level on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above trigger buffer level, par plus coupon; if any ETF falls by more than 15%, lose 1% for every 1% decline of laggard ETF beyond the 15%
|
| Call: | At par plus coupon if each ETF closes at or above its initial level on any quarterly call observation date starting September 2024
|
| Initial ETF levels: | $401.35 for S&P ETF, $327.08 for Dow ETF
|
| Trigger buffer levels: | 85% of initial levels
|
| Coupon trigger levels: | 80% of initial levels
|
| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 40057RAX6
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