New Issue: GS Finance prices $600,000 contingent coupon index-linked notes on S&P 500

By Kiku Steinfeld

Chicago, Sept. 26 – GS Finance Corp. priced $600,000 of contingent coupon index-linked notes due April 3, 2024 linked 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.

Each quarter, the notes pay a contingent coupon, plus any previously unpaid coupons, at an annual rate of 9.85% if the index’s closing level is greater than or equal to 80% of its initial level on the observation date for that period.

The payout at maturity will be par plus the final coupon unless the index declines by more than 20%, in which case investors will lose 1% for every 1% that the index declines from its initial level.

Goldman Sachs & Co. LLC is the underwriter with JPMorgan as the placement agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Contingent coupon index-linked notes
Underlying index:	S&P 500
Amount:	$600,000
Maturity:	April 3, 2024
Coupon:	9.85% payable quarterly if index’s closing level is greater than or equal to 80% of initial level on observation date for that period, plus any previously unpaid coupons
Price:	Par
Payout at maturity:	Par plus final coupon unless index declines by more than 20%, in which case 1% loss for every 1% it declines from initial level
Initial level:	3,855.76
Trigger level:	80% of initial level
Pricing date:	March 14, 2023
Settlement date:	March 20, 2023
Underwriter:	Goldman Sachs & Co. LLC with JPMorgan as placement agent
Fees:	1%
Cusip:	40057R3N6

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.