By Angela McDaniels
Tacoma, Wash., Feb. 28 – GS Finance Corp. priced $4.62 million of callable contingent coupon index-linked notes due June 30, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.8% per year if the index closes at or above 70% of its initial level on the observation date for that quarter.
The notes are callable at par quarterly beginning in June 2024.
The payout at maturity will be par unless the final index level is less than 70% of the initial index level, in which case investors will lose 1% for every 1% that the final index level declines from the initial index level.
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: | Callable contingent coupon index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $4.62 million
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| Maturity: | June 30, 2028
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| Coupon: | 6.8% per year, payable quarterly if index closes at or above 70% of initial level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless final index level is less than 70% of initial index level, in which case 1% loss for every 1% that final index level declines from initial index level
|
| Call option: | Callable at par quarterly beginning in June 2024
|
| Initial level: | 4,378.41
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| Barrier level: | 70% of initial level
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.64%
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| Cusip: | 40057T2R4
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