Chicago, Dec. 4 – GS Finance Corp. priced $430,000 of autocallable contingent coupon index-linked notes due Aug. 4, 2025 tied to the S&P 500 Volatility Plus Daily Risk Control index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s closing level on a quarterly observation date is greater than or equal to 60% of the initial index level, the notes will pay a contingent coupon 8%. Previously unpaid coupons will also be paid.
Beginning in April 2023, the notes will be called at par if the index closes at or above its initial index level on any quarterly call observation date.
If the notes are not called and the index finishes at or above the 60% barrier level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index-linked notes
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| Underlying index: | S&P 500 Volatility Plus Daily Risk Control index
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| Amount: | $430,000
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| Maturity: | Aug. 4, 2025
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| Coupon: | 8% per year, payable quarterly if index closes at or above barrier level on valuation date for that period; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | If index finishes at or above barrier level, par; otherwise, full exposure to decline from initial level
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| Call: | Beginning in April 2023, automatically at par if index closes at or above initial level on any quarterly call observation date
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| Initial level: | 2,700.60
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| Barrier level: | 60% of initial level
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| Pricing date: | Oct. 26, 2022
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| Settlement date: | Oct. 31, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057NHC4
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