By Angela McDaniels
Tacoma, Wash., May 1 – GS Finance Corp. priced $250,000 of callable contingent coupon index-linked notes due June 4, 2027 linked to the S&P SmallCap 600 High Beta 100 index and the S&P 500 Enhanced Beta 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11.5% per year if each index closes at or above its coupon threshold level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par quarterly.
If the notes are not called, the payout at maturity will be par unless the lesser-performing index finishes below its downside threshold level, 70% of its initial, in which case investors will be exposed to the decline of the lesser-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index-linked notes
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| Underlying indexes: | S&P SmallCap 600 High Beta 100 index and S&P 500 Enhanced Beta 50 index
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| Amount: | $250,000
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| Maturity: | June 4, 2027
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| Coupon: | 11.5% per year, payable quarterly if each index closes at or above coupon threshold level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless lesser-performing index finishes below downside threshold price, in which case exposure to decline of lesser-performing index
|
| Call option: | At par quarterly
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| Initial levels: | 2,136.71 for S&P SmallCap 600 and 2,420.34 for &P 500 Enhanced Beta
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| Coupon threshold levels: | 70% of initial share levels
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| Downside threshold levels: | 70% of initial share levels
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| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057LZG9
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