By Kiku Steinfeld
Chicago, April 8 – GS Finance Corp. priced $820,000 of autocallable contingent coupon equity-linked notes due July 10, 2025 linked to the class B common stock of Nike, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at the rate of 9.5% per year if the stock closes at or above its downside threshold level, 65% of its initial share price, on the observation date that period, plus any previously unpaid coupons.
The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly observation date after six months.
If the stock finishes at or above the 65% downside threshold level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses of the stock.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon equity-linked notes
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Underlying stock: | Nike, Inc.
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Amount: | $820,000
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Maturity: | July 10, 2025
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Coupon: | 9.5% per year, payable quarterly if stock closes at or above coupon threshold level on observation date that period, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | If stock finishes at or above downside threshold level, par; otherwise, full exposure to any losses of the stock
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Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date after six months
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Initial share price: | $104.46
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Downside threshold: | 65% of initial share price
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Pricing date: | July 7, 2023
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Settlement date: | July 12, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.75%
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Cusip: | 40057TJM7
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