By Kiku Steinfeld
Chicago, Dec. 1 – GS Finance Corp. priced $500,000 of callable contingent coupon index-linked notes due April 24, 2028 tied to the S&P 500 Volatility Plus Daily Risk Control index, 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 6.2% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be callable at the option of the issuer on any quarterly valuation date after one year at par plus any coupon otherwise due.
If the notes are not called and the index finishes at or above 70% of initial value, the payout will be par.
Otherwise, investors will be fully exposed to the index’s decline from its initial level.
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: | Callable contingent coupon index-linked notes
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| Underlying index: | S&P 500 Volatility Plus Daily Risk Control index
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| Amount: | $500,000
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| Maturity: | April 24, 2028
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| Coupon: | 6.2% annualized rate, payable monthly if the index closes at or above coupon trigger level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If the index finishes at or above trigger buffer level, par; otherwise, investors will lose 1% for every 1% index decline from initial level
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| Call option: | At par plus any coupon due on any quarterly review date after one year
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| Initial index level: | 3,032.08
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| Coupon trigger level: | 70% of initial level
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| Trigger buffer level: | 70% of initial level
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| Pricing date: | April 19, 2023
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| Settlement date: | April 24, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057RHZ4
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