By Angela McDaniels
Tacoma, Wash., July 13 – GS Finance Corp. priced $989,000 of callable contingent coupon equity-linked notes due Aug. 1, 2024 linked to the common stock of Microsoft Corp., 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% per year if the stock closes at or above the coupon trigger price, 65% of the initial share price, on the observation date for that quarter.
Beginning in January 2023, the notes are callable at par quarterly.
If the final share price is greater than or equal to the trigger buffer price, 65% of the initial share price, the payout at maturity will be par. Otherwise, investors will be exposed to the stock’s decline.
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 equity-linked notes
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| Underlying indexes: | Microsoft Corp.
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| Amount: | $989,000
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| Maturity: | Aug. 1, 2024
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| Coupon: | 11% per year, payable quarterly if the stock closes at or above the coupon trigger price, 65% of the initial share price, on the observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than trigger buffer price, in which case exposure to stock’s decline
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| Call option: | Beginning in January 2023, the notes are callable at par quarterly.
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| Initial share price: | $268.74
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| Coupon trigger price: | 65% of initial share price
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| Trigger buffer price: | 65% of initial share price
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| Pricing date: | July 22, 2022
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| Settlement date: | Aug. 1, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057MQB8
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