Chicago, Oct. 2 – GS Finance Corp. priced $661,000 of autocallable contingent coupon equity-linked notes due Oct. 6, 2025 linked to the stocks of American Express Co., Apple Inc. and Alphabet Inc., 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 12.25% if each stock closes at or above its coupon barrier price, 60 % of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date after six months.
At maturity, investors will receive par if at least one stock closes above its initial level or if all three stocks finish above 60% of their initial level. Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | American Express Co. (Ticker: AXP), Apple Inc. (Ticker: AAPL) and Alphabet Inc. (Ticker: GOOG)
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| Amount: | $661,000
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| Maturity: | Oct. 6, 2025
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| Coupon: | 12.25% annual rate, payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par if at least one stock closes above initial level or all three close above final barrier level; otherwise, full exposure to losses of worst performer
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after six months
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| Initial share prices: | $137.49 for AmEx, $151.76 for Apple, $98.09 for Alphabet
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| Coupon barrier prices: | 60% of initial levels
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| Final barrier prices: | 60% of initial levels
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057NB55
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