By Angela McDaniels
Tacoma, Wash., April 10 – GS Finance Corp. priced $500,000 of 0% autocallable index-linked notes due Sept. 18, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The initial index level is the lowest of the closing levels of the index during the observation period, which is each scheduled trading day from and including July 13, 2023 to and including July 26, 2023.
The notes will be automatically called at par plus 10.83% if the index closes at or above the initial index level on Sept. 16, 2024.
If the notes are not called and the index return is positive or zero, the payout at maturity will be par plus 1.5 times the index return. If the index return is negative but not below negative 25%, the payout will be par. If the index return is below negative 25%, 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. JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $500,000
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| Maturity: | Sept. 18, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is positive or zero, par plus 1.5 times index return; if index return is negative but not below negative 25%, par; if index return is below negative 25%, 1% loss for every 1% that index declines from initial level
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| Call: | Automatically at par plus 10.83% if index closes at or above initial index level on Sept. 16, 2024
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| Initial level: | Lowest of index’s closing levels from and including July 13, 2023 to and including July 26, 2023
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| Barrier level: | 75% of initial level
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| Pricing date: | July 14, 2023
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| Settlement date: | July 19, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Placement agent: | JPMorgan
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| Fees: | 1.58%
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| Cusip: | 40057TL44
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