By Kiku Steinfeld
Chicago, Sept. 22 – GS Finance Corp. priced $635,000 of 0% bearish autocallable notes due March 18, 2024 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized premium of 29.5% if the index’s closing level on a quarterly observation date after six months is less than its initial level.
At maturity, if the index level is less than its initial level, the payout will be par plus 29.5%.
If the index gains, investors will lose 1% for every 1% increase of the index, capped at a maximum loss of 100%.
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: | Bearish autocallable notes
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| Underlying index: | Dow Jones industrial average
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| Amount: | $635,000
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| Maturity: | March 18, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final index level decreases from the initial, par plus 29.5%; otherwise, 1% loss for every 1% of index gain, subject to a minimum payout of $0
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| Call: | Automatically at par plus an annualized premium of 29.5% if the index’s closing level on a quarterly observation date after six months is less than its initial level
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| Initial level: | 32,254.86
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| Pricing date: | March 9, 2023
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| Settlement date: | March 14, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.85%
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| Cusip: | 40057PZL9
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