Published on 5/3/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $900,000 autocallables linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., May 3 – GS Finance Corp. priced $900,000 of 0% autocallable index-linked notes due June 9, 2025 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 12% if each index closes at or above its initial level on May 31, 2023 or at par plus 24% if each index closes at or above its initial level on May 31, 2024.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 36%. If the final level of each index is greater than or equal to 65% of its initial level but the final level of either index is less than its initial level, the payout will be par. If the final level of either index is less than 65% of its initial level, 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: | Autocallable index-linked notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $900,000
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| Maturity: | June 9, 2025
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| Coupon: | 0%
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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 initial level, par plus 36%; if final level of each index is greater than or equal to 65% of initial level but final level of either index is less than initial level, par; if final level of either index is less than 65% of its initial level, exposure to decline of lesser-performing index
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| Call: | Automatically at par plus 12% if each index closes at or above its initial level on May 31, 2023 or at par plus 24% if each index closes at or above its initial level on May 31, 2024
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| Initial levels: | 1,864.043 for Russell and 4,132.15 for S&P
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| Barrier levels: | 65% of initial 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: | 0.72%
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| Cusip: | 40057LV99
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