Published on 8/12/2022 in the Prospect News Structured Products Daily.
New Issue: GS prices $9.64 million autocallable variable coupon equity notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Aug. 12 – GS Finance Corp. priced $9.64 million of autocallable variable coupon equity-linked notes due Aug. 2, 2027 linked to the stocks of Apple Inc., Amazon.com, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a monthly coupon at an annual rate of 7% if each stock closes above its coupon barrier price, 70% of its initial price, on a related determination date. Otherwise, the coupon will be at a rate of 0.25% per annum for the month.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any monthly valuation date after one year.
The payout at maturity will be par plus the final coupon.
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 variable coupon equity-linked securities
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Tesla, Inc.
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| Amount: | $9,644,000
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| Maturity: | Aug. 2, 2027
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| Coupon: | 7% annual rate if closing price of each stock is greater than or equal to coupon barrier on related observation date, otherwise, 0.25% annual rate; payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus final coupon
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly valuation date after one year
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| Initial share prices: | $151.70 for Apple, $114.81 for Amazon, $776.58 for Tesla
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| Coupon barrier prices: | 70% of initial share prices
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| Pricing date: | July 26
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| Settlement date: | July 29
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057MNM7
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