By William Gullotti
Buffalo, N.Y., Aug. 16 – GS Finance Corp. amended the terms of its July 29, 2022 issuance of $8.89 million of 0% index-linked notes due July 31, 2025 linked to the performance of the S&P 500 Daily Risk Control 5% USD Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The original terms of the notes remained largely unchanged, however the initial index level for the notes was changed to add a second potential initial value. The initial value will be determined at maturity, dependent on which initial value results in the greatest return, using either the strike level from the original note terms or the closing level of the “initial” Excess Return index on the trade day.
If the return of the index is zero or positive, the payout at maturity will be par plus 137% of the index return.
Otherwise, investors will gain 1% for every 1% decline of the index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying index: | S&P 500 Daily Risk Control 5% USD Excess Return index
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| Amount: | $8,892,000
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| Maturity: | July 31, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index return is zero or positive, par plus 137% of index return; otherwise, par plus absolute value of index return
|
| Initial level: | 243.72 or 158.2 (value of initial level will be determined at maturity, based on which will return the highest cash settlement amount)
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| Initial pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Amendment date: | Aug. 1
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.78%
|
| Cusip: | 40057MLG2
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