By Kiku Steinfeld
Chicago, Oct. 2 – GS Finance Corp. priced $250,000 of callable contingent coupon ETF-linked notes due March 22, 2028 tied to the Technology Select Sector SPDR fund, 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 monthly coupon at an annual rate of 8.4% if the ETF closes at or above the coupon trigger level, 80% of the initial level, on the relevant observation date.
The notes will be callable at par plus any coupon otherwise due on any monthly observation date after one year.
If the notes are not called and the ETF finishes at or above 80% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will be exposed to the ETF’s decline below the 80% buffer level.
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 ETF-linked notes
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| Underlying fund: | Technology Select Sector SPDR fund
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| Amount: | $250,000
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| Maturity: | March 22, 2028
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| Coupon: | 8.4% annualized rate, payable monthly if the ETF closes at or above coupon trigger level, on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes at or above buffer level, par plus final coupon; otherwise, 1% loss for every 1% decline below buffer level
|
| Call option: | At par plus any coupon otherwise due on any monthly observation date after one year
|
| Initial ETF level: | $143.46
|
| Buffer level: | 80% of initial levels
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| Coupon trigger level: | 80% of initial levels
|
| Pricing date: | March 17, 2023
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| Settlement date: | March 22, 2023
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 40057R2U1
|
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