Published on 7/13/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $400,000 callable contingent coupon notes linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., July 13 – GS Finance Corp. priced $400,000 of callable contingent coupon equity-linked notes due Aug. 1, 2029 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 5.5% per year if each index closes at or above 80% of its initial level on the observation date for that month.
Beginning in August 2023, the notes are callable at par quarterly.
The payout at maturity will be par.
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: | Russell 2000 index and S&P 500 index
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| Amount: | $400,000
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| Maturity: | Aug. 1, 2029
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| Coupon: | 5.5% per year, payable monthly if each index closes at or above 80% of initial level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | Beginning in August 2023, notes are callable at par quarterly
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| Initial levels: | 1,848.339 for Russell and 4,023.61 for S&P
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| Coupon barrier levels: | 80% of initial levels
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| Pricing date: | July 27, 2022
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| Settlement date: | Aug. 1, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057MQP7
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