Chicago, Feb. 12 – GS Finance Corp. priced $231,000 of autocallable contingent coupon index-linked notes due March 4, 2025 linked to the S&P 500 Volatility Plus Daily Risk Control index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 8.5% per year if the index closes at or above the barrier level, 70% of the initial index level, on the observation date for that period. Previously unpaid coupons will also be paid.
Starting after one year, the notes will be called automatically at par if the index closes at or above the initial index level on any quarterly call observation date.
The payout at maturity will be par unless the final index level is less than the 70% barrier level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
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: | 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: | $231,000
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| Maturity: | March 4, 2025
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| Coupon: | 8.5% per year, payable monthly if index closes at or above barrier level on observation date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par unless final index level is less than barrier level, in which case 1% loss for every 1% that index declines from initial level
|
| Call: | Beginning after one year, automatically at par if index closes at or above initial index level on any quarterly call observation date
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| Initial level: | 3,028.50
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| Barrier level: | 70% of initial level
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| Pricing date: | May 25, 2023
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| Settlement date: | May 31, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.52%
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| Cusip: | 40057RRZ3
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