By Kiku Steinfeld
Chicago, Nov. 15 – GS Finance Corp. priced $847,000 of 0% trigger autocallable gears due March 20, 2024 linked to the stock performance of ConocoPhillips, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above its initial level on March 16, 2023, the notes will be automatically called at par plus 31.25%.
If the notes are not called and the stock finishes at or above its initial level, the payout at maturity will be par plus 1.25 times the stock gain.
If the stock declines but finishes above its 75% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the stock’s final level is below its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable gears
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| Underlying stock: | ConocoPhillips
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| Amount: | $847,000
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| Maturity: | March 20, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If stock gains, par plus 1.25 times the gain; par if stock falls by 25% or less; full exposure to losses if stock finishes below downside threshold level
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| Call: | At par plus 31.25% if the stock closes at or above its initial level on March 16, 2023
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| Initial level: | $95.05
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| Downside threshold: | $71.29; 75% of initial level
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| Pricing date: | March 15
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| Settlement date: | March 18
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | 2%
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| Cusip: | 36262Y847
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