By Angela McDaniels
Tacoma, Wash., April 5 – GS Finance Corp. priced $914,000 of autocallable contingent coupon index-linked notes due July 7, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 9% per year if the index closes at or above its coupon barrier level, 85% of its initial level, on the observation date for that month.
Beginning in June 2024, the notes will be automatically called at par if the index closes at or above the initial index level on any monthly observation date.
The payout at maturity will be par unless the index’s final level is less than the 85% buffer level, in which case investors will lose 1% for every 1% that the index declines beyond 15%.
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: | Autocallable contingent coupon index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $914,000
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Maturity: | July 7, 2026
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Coupon: | 9% per year, payable monthly if index closes at or above coupon barrier level on observation date for that month
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Price: | Par
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Payout at maturity: | Par unless index’s final level is less than the 85% buffer level, in which case 1% loss for every 1% that index declines beyond 15%
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Call: | Beginning in June 2024, automatically at par if index closes at or above initial index level on any monthly observation date
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Initial level: | 4,450.38
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Coupon barrier level: | 85% of initial level
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Buffer level: | 85% of initial level
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Pricing date: | June 30, 2023
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Settlement date: | July 6, 2023
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.53%
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Cusip: | 40057RZY7
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