Chicago, June 30 – GS Finance Corp. priced $500,000 of callable contingent coupon equity-linked notes due March 8, 2023 linked to the class A common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay an annualized 13.2% contingent coupon, but the term of the notes is less than one year. The quarterly coupon payments will be made if the stock closes above its 70% coupon trigger price on the related observation date, with the coupon prorated for the final two-month period.
The securities may be called at par on either of the first two coupon dates.
If the stock gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon equity-linked notes
|
| Underlying stock: | Alphabet Inc.
|
| Amount: | $500,000
|
| Maturity: | March 8, 2023
|
| Coupon: | 13.2% annualized rate; payable quarterly if stock closes above downside threshold level with last coupon prorated to two-month term
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
|
| Call: | At par on either of first two coupon dates
|
| Initial level: | $2,174.75
|
| Downside threshold: | 70% of initial level
|
| Pricing date: | July 1, 2022
|
| Settlement date: | July 7, 2022
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 40057MHM4
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
