By Kiku Steinfeld
Chicago, March 4 – GS Finance Corp. priced $632,000 of autocallable contingent coupon equity-linked notes due July 3, 2028 linked to the common stocks of Nvidia Corp., Amazon.com, Inc. and Microsoft Corp. and the Class C capital stock of 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 9.75% if each stock closes above its coupon barrier price, 70% of its initial price, on a related determination date.
The notes will be automatically called at par if each stock closes at or above its initial share price on any monthly call observation date after one year.
If the notes are not called and the final share price of each stock is greater than or equal to its final barrier price, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock.
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: | Microsoft Corp., Amazon.com, Inc., Nvidia Corp. and Alphabet Inc.
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| Amount: | $632,000
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| Maturity: | July 3, 2028
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| Coupon: | 9.75% 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 each stock closes at or above 70% of its initial share price; otherwise, full exposure to decline of least performing stock
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| Call: | At par if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after one year
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| Initial share prices: | $127.33 for Amazon, $119.09 for Alphabet, $406.32 for Nvidia and $328.60 for Microsoft
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| Coupon barrier prices: | 70% of initial levels
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| Final barrier prices: | 70% of initial levels
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| Pricing date: | June 26, 2023
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| Settlement date: | June 29, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.63%
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| Cusip: | 40057TC28
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