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Published on 2/9/2023 in the Prospect News Structured Products Daily.

New Issue: GS Finance prices $1.5 million leveraged basket-linked notes on 100 stocks

Chicago, Feb. 9 – GS Finance Corp. priced $1.5 million of 0% leveraged notes due Nov. 1, 2023 linked to a weighted stock basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the stocks of AGCO Corp. with a 1.46% weight, Agnico Eagle Mines Ltd. with a 1.5% weight, Alcoa Corp. with a 1.5% weight, Allegheny Technologies Inc. with a 0.48% weight, American Vanguard Corp. with a 0.09% weight, AngloGold Ashanti Ltd. with a 0.71% weight, Antero Resources Corp. with a 1.5% weight, APA Corp. with a 1.5% weight, ArcelorMittal with a 1.32% weight, Archer-Daniels-Midland Co. with a 1.5% weight, Arconic Corp. with a 0.45% weight, Baker Hughes Co. with a 1.5% weight, Barrick Gold Corp. with a 1.51% weight, Bunge Ltd. with a 1.5% weight, Canadian Natural Resources Ltd. with a 1.51% weight, Carpenter Technology Corp. with a 0.17% weight, Century Aluminum Co. with a 0.54% weight, CF Industries Holdings, Inc. with a 1.5% weight, Chevron Corp. with a 1.51% weight, Cleveland-Cliffs Inc. with a 1.51% weight, CNH Industrial NV with a 0.86% weight, CNX Resources Corp. with a 0.74% weight, Coeur Mining, Inc. with a 0.28% weight, Commercial Metals Co. with a 0.48% weight, Compania de Minas Buenaventura SAA with a 0.12% weight, Compass Minerals International Inc. with a 0.22% weight, Comstock Resources, Inc. with a 0.59% weight, ConocoPhillips with a 1.51% weight, Continental Resources, Inc. with a 0.91% weight, Corteva, Inc. with a 1.51% weight, Coterra Energy Inc. with a 1.51% weight, Darling Ingredients Inc. with a 1.15% weight, Deere & Co. with a 1.51% weight, Devon Energy Corp. with a 1.51% weight, Diamondback Energy, Inc. with a 1.51% weight, Eldorado Gold Corp. with a 0.24% weight, EOG Resources, Inc. with a 1.51% weight, EQT Corp. with a 1.51% weight, Exxon Mobil Corp. with a 1.51% weight, First Majestic Silver Corp. with a 0.84% weight, FMC Corp. with a 1.51% weight, Fortuna Silver Mines Inc. with a 0.26% weight, Franco-Nevada Corp. with a 1.05% weight, Freeport-McMoRan Inc. with a 1.51% weight, Gerdau SA with a 0.79% weight, Halliburton Co. with a 1.51% weight, Harmony Gold Mining Co. Ltd. with a 0.33% weight, Hecla Mining Co. with a 0.6% weight, Hess Corp. with a 1.51% weight, HF Sinclair Corp. with a 0.84% weight, ICL Group Ltd. with a 0.18% weight, Intrepid Potash, Inc. with a 0.83% weight, Kaiser Aluminum Corp. with a 0.1% weight, Kinder Morgan, Inc. with a 1.5% weight, Lindsay Corp. with a 0.11% weight, Marathon Oil Corp. with a 1.51% weight, Marathon Petroleum Corp. with a 1.51% weight, Matador Resources Co. with a 1.13% weight, Materion Corp. with a 0.08% weight, Murphy Oil Corp. with a 0.75% weight, National Fuel Gas Co. with a 0.46% weight, Newmont Corp. with a 1.51% weight, NOV Inc. with a 0.83% weight, Nucor Corp. with a 1.51% weight, Occidental Petroleum Corp. with a 1.51% weight, Oneok, Inc. with a 1.51% weight, Pan American Silver Corp. with a 0.72% weight, Phillips 66 with a 1.51% weight, Pioneer Natural Resources Co. with a 1.51% weight, Posco with a 0.1% weight, Range Resources Corp. with a 1.46% weight, Reliance Steel & Aluminum Co. with a 0.92% weight, Rio Tinto plc with a 1.51% weight, Royal Gold, Inc. with a 0.75% weight, Ryerson Holding Corp. with an 0.11% weight, Sandstorm Gold Ltd. with a 0.18% weight, Schlumberger NV (Schlumberger Ltd.) with a 1.51% weight, Schnitzer Steel Industries, Inc. with a 0.2% weight, Seabridge Gold Inc. with a 0.08% weight, Sociedad Quimica Y Minera De Chile SA with a 1.51% weight, Southern Copper Corp. with a 0.77% weight, Southwestern Energy Co. with a 1.51% weight, Steel Dynamics, Inc. with a 1.51% weight, SunCoke Energy, Inc. with a 0.09% weight, Suncor Energy Inc. with a 1.51% weight, Teck Resources Ltd. with a 1.51% weight, Mosaic Co. with a 1.51% weight, Scotts Miracle-Gro Co. with a 0.6% weight, Toro Co. with a 0.54% weight, Williams Cos., Inc. with a 1.51% weight, TimkenSteel Corp. with a 0.16% weight, Titan International, Inc. with a 0.07% weight, Tractor Supply Co. with a 1.51% weight, Trimble Inc. with a 0.71% weight, Turquoise Hill Resources Ltd. with a 0.25% weight, United States Steel Corp. with a 1.51% weight, Vale SA with a 1.51% weight, Valero Energy Corp. with a 1.51% weight, Worthington Industries, Inc. with a 0.17% weight and Yamana Gold Inc. with a 1.25% weight.

The payout at maturity will be par plus 1.25 times the basket gain.

Investors will be fully exposed to any basket decline.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:GS Finance Corp.
Guarantor:Goldman Sachs Group, Inc.
Issue:Leveraged index-linked notes
Underlying stocks:AGCO Corp. (1.46% weight), Agnico Eagle Mines Ltd. (1.5% weight), Alcoa Corp. (1.5% weight), Allegheny Technologies Inc. (0.48% weight), American Vanguard Corp. (0.09% weight), AngloGold Ashanti Ltd. (0.71% weight), Antero Resources Corp. (1.5% weight), APA Corp. (1.5% weight), ArcelorMittal (1.32% weight), Archer-Daniels-Midland Co. (1.5% weight), Arconic Corp. (0.45% weight), Baker Hughes Co. (1.5% weight), Barrick Gold Corp. (1.51% weight), Bunge Ltd. (1.5% weight), Canadian Natural Resources Ltd. (1.51% weight), Carpenter Technology Corp. (0.17% weight), Century Aluminum Co. (0.54% weight), CF Industries Holdings, Inc. (1.5% weight), Chevron Corp. (1.51% weight), Cleveland-Cliffs Inc. (1.51% weight), CNH Industrial NV (0.86% weight), CNX Resources Corp. (0.74% weight), Coeur Mining, Inc. (0.28% weight), Commercial Metals Co. (0.48% weight), Compania de Minas Buenaventura SAA (0.12% weight), Compass Minerals International Inc. (0.22% weight), Comstock Resources, Inc. (0.59% weight), ConocoPhillips (1.51% weight), Continental Resources, Inc. (0.91% weight), Corteva, Inc. (1.51% weight), Coterra Energy Inc. (1.51% weight), Darling Ingredients Inc. (1.15% weight), Deere & Co. (1.51% weight), Devon Energy Corp. (1.51% weight), Diamondback Energy, Inc. (1.51% weight), Eldorado Gold Corp. (0.24% weight), EOG Resources, Inc. (1.51% weight), EQT Corp. (1.51% weight), Exxon Mobil Corp. (1.51% weight), First Majestic Silver Corp. (0.84% weight), FMC Corp. (1.51% weight), Fortuna Silver Mines Inc. (0.26% weight), Franco-Nevada Corp. (1.05% weight), Freeport-McMoRan Inc. (1.51% weight), Gerdau SA (0.79% weight), Halliburton Co. (1.51% weight), Harmony Gold Mining Co. Ltd. (0.33% weight), Hecla Mining Co. (0.6% weight), Hess Corp. (1.51% weight), HF Sinclair Corp. (0.84% weight), ICL Group Ltd. (0.18% weight), Intrepid Potash, Inc. (0.83% weight), Kaiser Aluminum Corp. (0.1% weight), Kinder Morgan, Inc. (1.5% weight), Lindsay Corp. (0.11% weight), Marathon Oil Corp. (1.51% weight), Marathon Petroleum Corp. (1.51% weight), Matador Resources Co. (1.13% weight), Materion Corp. (0.08% weight), Murphy Oil Corp. (0.75% weight), National Fuel Gas Co. (0.46% weight), Newmont Corp. (1.51% weight), NOV Inc. (0.83% weight), Nucor Corp. (1.51% weight), Occidental Petroleum Corp. (1.51% weight), ONEOK, Inc. (1.51% weight), Pan American Silver Corp. (0.72% weight), Phillips 66 (1.51% weight), Pioneer Natural Resources Co. (1.51% weight), POSCO (0.1% weight), Range Resources Corp. (1.46% weight), Reliance Steel & Aluminum Co. (0.92% weight), Rio Tinto plc (1.51% weight), Royal Gold, Inc. (0.75% weight), Ryerson Holding Corp. (0.11% weight), Sandstorm Gold Ltd. (0.18% weight), Schlumberger NV (Schlumberger Ltd.) (1.51% weight), Schnitzer Steel Industries, Inc. (0.2% weight), Seabridge Gold Inc. (0.08% weight), Sociedad Quimica Y Minera De Chile SA (1.51% weight), Southern Copper Corp. (0.77% weight), Southwestern Energy Co. (1.51% weight), Steel Dynamics, Inc. (1.51% weight), SunCoke Energy, Inc. (0.09% weight), Suncor Energy Inc. (1.51% weight), Teck Resources Ltd. (1.51% weight), The Mosaic Co. (1.51% weight), Scotts Miracle-Gro Co. (0.6% weight), Toro Co. (0.54% weight), Williams Companies, Inc. (1.51% weight), TimkenSteel Corp. (0.16% weight), Titan International, Inc. (0.07% weight), Tractor Supply Co. (1.51% weight), Trimble Inc. (0.71% weight), Turquoise Hill Resources Ltd. (0.25% weight), United States Steel Corp. (1.51% weight), Vale SA (1.51% weight), Valero Energy Corp. (1.51% weight), Worthington Industries, Inc. (0.17% weight) and Yamana Gold Inc. (1.25% weight)
Amount:$1,500,000
Maturity:Nov. 1, 2023
Coupon:0%
Price:Par
Payout at maturity:If basket return is positive, par plus 1.25 times basket gain; otherwise, 1% loss for every 1% of basket decline from initial level
Initial levels:$127.4 for AGCO, $58.23 for Agnico Eagle Mines, $67.8 for Alcoa, $27.18 for Allegheny Technologies, $21.4 for American Vanguard, $20.42 for AngloGold Ashanti, $35.2 for Antero Resources, $40.93 for APA, $29.24 for ArcelorMittal, $89.56 for Archer-Daniels-Midland, $25.16 for Arconic, $31.02 for Baker Hughes, $22.31 for Barrick Gold, $113.12 for Bunge, $61.87 for Canadian Natural Resources, $38.18 for Carpenter Technology, $16.87 for Century Aluminum, $96.83 for CF Industries Holdings, $156.67 for Chevron, $25.49 for Cleveland-Cliffs, $14.19 for CNH Industrial NV, $20.55 for CNX Resources, $3.63 for Coeur Mining, $41 for Commercial Metals, $9.44 for Compania de Minas Buenaventura SAA, $59.13 for Compass Minerals International, $17.03 for Comstock Resources, $95.52 for ConocoPhillips, $55.57 for Continental Resources, $57.69 for Corteva, $28.79 for Coterra Energy, $73.39 for Darling Ingredients, $377.55 for Deere &, $58.17 for Devon Energy, $126.23 for Diamondback Energy, $9.72 for Eldorado Gold, $116.76 for EOG Resources, $39.75 for EQT, $85.25 for Exxon Mobil, $10.3 for First Majestic Silver, $132.54 for FMC, $3.48 for Fortuna Silver Mines, $151.16 for Franco-Nevada, $40.55 for Freeport-McMoRan, $5.67 for Gerdau SA, $35.62 for Halliburton, $4.09 for Harmony Gold Mining , $5.21 for Hecla Mining, $103.07 for Hess, $38.02 for HF Sinclair, $10.97 for ICL Group, $76.58 for Intrepid Potash, $96.5 for Kaiser Aluminum, $18.15 for Kinder Morgan, $135.15 for Lindsay, $24.92 for Marathon Oil, $87.26 for Marathon Petroleum, $48.82 for Matador Resources, $85.15 for Materion, $38.08 for Murphy Oil, $70.13 for National Fuel Gas, $72.85 for Newmont, $18.13 for NOV, $154.78 for Nucor, $55.09 for Occidental Petroleum, $63.33 for ONEOK, $24.77 for Pan American Silver, $86.76 for Phillips 66, $232.47 for Pioneer Natural Resources, $56.71 for POSCO, $29.94 for Range Resources, $198.25 for Reliance Steel & Aluminum, $71.12 for Rio Tinto plc, $130.48 for Royal Gold, $36.81 for Ryerson Holding, $7.41 for Sandstorm Gold, $39.01 for Schlumberger NV (Schlumberger ), $45.63 for Schnitzer Steel Industries, $17.66 for Seabridge Gold, $73.8 for Sociedad Quimica Y Minera De Chile SA, $62.27 for Southern Copper, $7.5 for Southwestern Energy, $85.75 for Steel Dynamics, $8.32 for SunCoke Energy, $35.94 for Suncor Energy, $39.46 for Teck Resources, $62.42 for Mosaic, $103.93 for Scotts Miracle-Gro, $80.13 for Toro, $34.29 for Williams Cos., $20.67 for TimkenSteel, $13.86 for Titan International, $201.45 for Tractor Supply, $66.7 for Trimble, $27.24 for Turquoise Hill Resources, $30.49 for United States Steel, $16.89 for Vale SA, $111.48 for Valero Energy, $47.57 for Worthington Industries and $5.51 for Yamana Gold
Pricing date:April 29, 2022
Settlement date:May 6, 2022
Agent:Goldman Sachs & Co. LLC
Fees:1.13%
Cusip:40057LTY7

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