By Kiku Steinfeld
Chicago, Dec. 12 – GS Finance Corp. priced $348,000 of autocallable contingent coupon equity-linked notes due April 24, 2025 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 contingent monthly coupon at an annual rate of 19.5% if each stock closes above its coupon barrier price, 60% of its initial price, on the corresponding observation date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any quarterly call observation date after six months.
The payout at maturity will be par unless any stock closes below its initial share price during the life of the notes and any stock finishes below 50% of its initial share price, in which case investors will lose 1% for each 1% decline of the worse performing stock.
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 equity-linked securities
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Tesla, Inc.
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| Amount: | $348,000
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| Maturity: | April 24, 2025
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| Coupon: | 19.5% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its initial share price during the life of the notes and any stock finishes below its final barrier price, in which case investors will lose 1% for each 1% decline of the worse performing stock
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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 quarterly observation date after six months
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| Initial share prices: | $165.02 for Apple, $106.96 for Amazon, $165.08 for Tesla
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| Coupon barrier prices: | 60% of initial levels
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| Final barrier prices: | 50% of initial levels
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.45%
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| Cusip: | 40057RJN9
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