By Kiku Steinfeld
Chicago, April 26 – GS Finance Corp. priced $1.54 million of contingent income autocallable securities due July 31, 2025 linked to the common stock of MasterCard Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8.85% per year if the stock closes at or above its coupon threshold price, 80% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its downside threshold price, 80% of its initial share price, in which case investors will be exposed to the stock’s decline.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | MasterCard Inc.
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| Amount: | $1,543,000
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| Maturity: | July 31, 2025
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| Coupon: | 8.85% per year, payable quarterly if stock closes at or above coupon threshold price on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below downside threshold price, in which case exposure to stock’s decline
|
| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $392.96
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| Coupon threshold price: | $314.368, 80% of initial share price
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| Downside threshold price: | $314.368, 80% of initial share price
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| Pricing date: | July 28, 2023
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| Settlement date: | Aug. 2, 2023
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| Underwriter: | Goldman Sachs & Co. LLC with Morgan Stanley Wealth Management as dealer
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| Fees: | 2%
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| Cusip: | 40057TM43
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