By Kiku Steinfeld
Chicago, Jan. 30 – GS Finance Corp. priced $8.2 million of contingent income autocallable securities due Jan. 26, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The guarantor is Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 5.75% if the index closes at or above its 80% downside threshold on the determination date for that quarter.
After six months, the notes will be called at par plus the contingent coupon if the index closes at or above its applicable call level on any quarterly call observation date. The call level will be 105% of the initial index level on the first three call observation dates, 110% of the initial index level on the next four call observation dates and 115% of the initial index level on the final three call observation dates.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the index finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline of the index.
Goldman Sachs & Co. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying index: | Euro Stoxx 50
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| Amount: | $8,198,000
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| Maturity: | Jan. 26, 2023
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| Coupon: | 5.75% annualized, payable each quarter that index closes at or above downside threshold level on determination date for that quarter
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| Level: | Par
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| Payout at maturity: | If index finishes at or above downside threshold, par plus final coupon; otherwise, full exposure to index decline
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| Call: | After six months, at par plus contingent coupon if index closes at or above applicable call level on any quarterly call observation date
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| Initial share level: | 3,736.85
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| Downside threshold: | 2,989.48, 80% of initial level
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| Call levels: | 105% of index’s initial level on first three call observation dates, 110% on next four call observation dates and 115% on final three call observation dates
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 28
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| Agent: | Goldman Sachs & Co. with Morgan Stanley Wealth Management as dealer
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| Fees: | 2.675%
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| Cusip: | 40056YCL6
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