By Kiku Steinfeld
Chicago, June 7 – GS Finance Corp. priced $36,000 of 0% leveraged index-linked notes due Jan. 31, 2028 tied to the S&P 500 Daily Risk Control 5% USD Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.45 times the index return, plus the contingent CPI amount, if any.
Otherwise, investors will receive par plus any contingent CPI amount.
The contingent CPI amount is based on the non-seasonally adjusted U.S. City Average All Items Consumer Price Index for All Urban Consumers. If the level of the CPI for November 2027 (the final CPI level) is greater than the level of the CPI for November 2022 (the initial CPI level), the contingent CPI amount will equal the percentage increase or decrease in the final CPI level from the initial CPI level. If the final CPI level is equal to or less than the initial CPI level, no contingent CPI amount will be paid at maturity.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Leveraged index-linked notes
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| Underlying index: | S&P 500 Daily Risk Control 5% USD Excess Return index
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| Amount: | $36,000
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| Maturity: | Jan. 31, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index return is positive, par plus 1.45 times the index return, plus any contingent CPI amount based; otherwise, par plus any contingent CPI amount; if the level of the CPI for November 2027 (the final CPI level) is greater than the level of the CPI for November 2022 (the initial CPI level), the contingent CPI amount will equal the percentage increase or decrease in the final CPI level from the initial CPI level; if final CPI level is equal to or less than initial CPI level, no contingent CPI amount will be paid
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| Initial index level: | 159.29
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| Initial CPI level: | 297.711
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.79%
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| Cusip: | 40057PF23
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