By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – GS Finance Corp. priced $2.25 million of index-linked notes due Sept. 24, 2026 linked to the performance of the S&P 500 Low Volatility High Dividend index, according to a 424B2 filing with the Securities and Exchange Commission.
If the closing level of the index is at least 90% of its initial level on every trading day during a monthly measurement period, investors will receive a coupon that month at an annual rate of 15.7% for the first year. The notes will be called at par plus a coupon if, by the final coupon determination date in September 2023, the closing level of the index has been at or above 90% of its initial level every day during the life of the notes.
The payout at maturity will be par plus the product of (a) $1,000 times (b) 111.11% (c) the sum of the index return plus 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500 Low Volatility High Dividend index
|
| Amount: | $2.25 million
|
| Maturity: | Sept. 24, 2026
|
| Coupon: | 15.7% for first year only, if index closes above 90% of initial level every day during a monthly observation period
|
| Price: | Par
|
| Call: | At par plus a coupon if, by the final coupon determination date in September 2023, the closing level of the index has been at or above 90% of its initial level every day during the life of the notes
|
| Payout at maturity: | Par plus the product of (a) $1,000 times (b) 111.11% (c) the sum of the index return plus 10%
|
| Initial level: | 7,215.4391
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 22
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 40057NA31
|
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