By Angela McDaniels
Tacoma, Wash., March 21 – GS Finance Corp. priced $709,000 of callable contingent coupon index-linked notes due July 6, 2028 linked to the S&P 500 Volatility Plus Daily Risk Control index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 11.4% per year if the index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that month.
Beginning in October 2023, the notes are callable monthly at par.
The payout at maturity will be par unless the index finishes below its trigger buffer level, 70% of its initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 Volatility Plus Daily Risk Control index
|
| Amount: | $709,000
|
| Maturity: | July 6, 2028
|
| Coupon: | 11.4% per year, payable monthly if index closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes below trigger buffer level, in which case 1% loss for every 1% that index declines from initial level
|
| Call option: | Quarterly at par beginning in October 2023
|
| Initial level: | 3,418.34
|
| Coupon barrier level: | 70% of initial level
|
| Trigger buffer level: | 70% of initial level
|
| Pricing date: | June 30, 2023
|
| Settlement date: | July 6, 2023
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.3%
|
| Cusip: | 40057TEJ9
|
|
|
© 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.
