By Kiku Steinfeld
Chicago, Aug. 3 – GS Finance Corp. priced $500,000 of autocallable contingent coupon equity-linked securities due April 11, 2023 linked to the common stock of Virgin Galactic Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the coupon barrier price, 60% of the initial price, on a quarterly valuation date, the notes will pay a coupon that quarter equal to the product of $95.625 (9.5625% quarterly, or up to 38.25% per year) times the number of observation dates that have occurred up to and including that observation date minus the sum of all coupons previously paid, if any.
The notes will be automatically called at par plus the contingent coupon if the stock closes at or above its initial share price on any quarterly call observation date.
Unless the stock closes below its 50% final barrier price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the stock price.
Goldman Sachs & Co. LLC is the agent.
| 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 stock: | Virgin Galactic Holdings, Inc.
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| Amount: | $500,000
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| Maturity: | April 11, 2023
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| Coupon: | If stock closes at or above coupon barrier price on quarterly valuation date, product of $95.625 (9.5625% quarterly, or up to 38.25% per year) times number of observation dates that have occurred up to and including that observation date minus sum of all coupons previously paid, if any
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below final barrier price, in which case full exposure to decline in stock from initial share price
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| Call: | Automatically at par if stock closes at or above initial level on any quarterly call observation date
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| Initial share price: | $11.78
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| Coupon barrier level: | 60% of initial level
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| Final barrier level: | 50% of initial level
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| Pricing date: | Jan. 7, 2022
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| Settlement date: | Jan. 12, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0%
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| Cusip: | 40057KRR6
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