Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $650,000 callable contingent coupon notes on indexes, fund
Chicago, May 12 – GS Finance Corp. priced $650,000 of callable contingent coupon notes due Dec. 26, 2023 linked to the Technology Select Sector SPDR fund, the S&P 500 index and the Russell 2000 index, 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 of 7.5% per annum if each asset closes at or above its 70% coupon trigger level on the observation date for that quarter.
The notes may be called at par plus the contingent coupon on any coupon payment date after nine months.
The payout at maturity will be par plus any coupon, if any, unless any asset finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing asset from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | S&P 500 index, Technology Select Sector SPDR fund, Russell 2000 index
|
| Amount: | $650,000
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| Maturity: | Dec. 26, 2023
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| Contingent coupon: | 7.5% annualized, payable quarterly if each asset closes at or above coupon trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon, if any, unless any asset finishes below 60% trigger level, in which case investors will be fully exposed to the decline of the least performing asset from its initial level
|
| Call: | At par plus any contingent coupon on any quarterly coupon payment date after nine months
|
| Initial asset levels: | 3,674.84 for S&P, $124.62 for fund and 1,665.694 for Russell
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| Coupon levels: | 70% of initial levels
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | June 17, 2022
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| Settlement date: | June 23, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.225%
|
| Cusip: | 40057MEV7
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