Chicago, Aug. 18 – GS Finance Corp. priced $50,000 of 0% index-linked notes due Aug. 3, 2027 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Investors will receive the maximum return on the notes if the index increases 8% or more annually, measured on the 29th day of each July.
On each annual observation date of the five-year note, the index level will be compared with a previous level.
The initial level of the index is 4,130.29. That is the initial comparative level.
If the index is higher on the observation date in 2023, the notes will accrue a return to be paid at maturity based on the comparative index return increase, capped at 8%. This process will be repeated annually.
If the index return was higher, that will be the new comparative level.
If the index return is lower, the comparative level will either be the last time it was higher on an observation date or the initial level.
At maturity, investors will receive par plus the sum of all the returns. The maximum return on the notes is par plus 46.93280768%.
The minimum payout is par.
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: | Index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $50,000
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| Maturity: | Aug. 3, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus sum of interval returns, capped at par plus 46.93280768%, minimum payout of par; annual interval returns will be calculated by taking the previous highest level of the index on an annual observation date (or the initial level, if relevant) and measuring the percentage increase from that level; interval return is capped at 8%
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| Initial level: | 4,130.29
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| Pricing date: | July 29, 2022
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| Settlement date: | Aug. 3, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 40057MPU7
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