By Kiku Steinfeld
Chicago, June 27 – GS Finance Corp. priced $500,000 of callable contingent coupon equity-linked notes due Feb. 6, 2024 linked to the common stock of Devon Energy Corp., 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 coupon at an annualized rate of 11.5% if the stock closes at or above the coupon barrier price, 50% of the initial price, on the valuation date for that period.
The notes may be called at par on any quarterly coupon date after six months.
If the notes have not been called, the payout at maturity will be par unless the stock closes below its 50% trigger value, in which case investors will lose 1% for every 1% that the stock finishes below its initial share price.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Devon Energy Corp.
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| Amount: | $500,000
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| Maturity: | Feb. 6, 2024
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| Coupon: | 11.5% annual rate, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its trigger value, in which case investors will lose 1% for every 1% that the stock finishes below its initial share price
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| Call option: | At par on any quarterly coupon date after six months
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| Initial share price: | $61.89
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| Coupon barrier level: | 50% of initial level
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| Trigger value: | 50% of initial level
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| Pricing date: | Feb. 1, 2023
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| Settlement date: | Feb. 6, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057PLU4
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