New York, April 5 – GS Finance Corp. priced $275,000 of callable contingent coupon index-linked notes due July 6, 2028 linked to the S&P 500 Volatility Plus Daily Risk Control index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, investors will receive a contingent coupon of 11.5% per year if the index closes at or above the 70% coupon trigger level on the observation date for that quarter.
If the final index level is greater than or equal to the 70% downside threshold, the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the index declines if it finishes below its downside threshold level.
The securities may be called at par on any coupon payment date starting in July 2024.
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: | 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: | $275,000
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| Maturity: | July 6, 2028
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| Coupon: | 11.5% per year, payable quarterly if index closes at or above 70% coupon trigger level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par if index finishes at or above the downside threshold level; otherwise 1% loss for every 1% that index declines
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| Call: | Starting in July 2024 at par on any coupon payment date
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| Initial level: | 3,418.34
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| Coupon trigger level: | 70% of initial level
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| Downside threshold level: | 70% of initial level
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.8%
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| Cusip: | 40057T4X9
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