Chicago, Aug. 22 – GS Finance Corp. priced $562,000 of callable contingent coupon index-linked notes due Aug. 15, 2025 tied to the S&P 500 index, 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 semiannual coupon at an annual rate of 6.2% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be callable at the option of the issuer on any semiannual valuation date starting after one year at par.
If the index finishes at or above the 70% buffer level, the payout will be par plus the coupon. Otherwise, investors will be exposed to the index’s decline beyond the 30% buffer.
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 index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $562,000
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Maturity: | Aug. 15, 2025
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Coupon: | 6.2% annualized rate, payable semiannually if the index closes at or above coupon trigger level on the relevant observation date
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Price: | Par
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Payout at maturity: | If the index finishes at or above buffer level, par plus final coupon; otherwise, investors will lose 1% for every 1% index decline beyond 30% buffer
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Call option: | At par plus any coupon due on any semiannual review date starting after one year
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Initial index level: | 4,210.24
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Coupon trigger level: | 70% of initial level
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Buffer level: | 70% of initial level
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Pricing date: | Aug. 10, 2022
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Settlement date: | Aug. 15, 2022
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.95%
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Cusip: | 40057MUS6
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