Chicago, June 15 – GS Finance Corp. priced $740,000 of market-linked securities that are autocallable with contingent coupon and contingent downside due May 29, 2026 linked to the lowest performing of the Energy Select Sector SPDR fund, the Financial Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at a rate of 10.8% per year if each fund closes at or above 70% of its initial level on the observation date for that period.
The notes will be automatically called at par if all three funds close above their initial levels on any monthly calculation date starting after six months.
If the notes are not redeemed, the payout at maturity will be par if all three funds close above their respective 65% downside threshold prices.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying funds: | Energy Select Sector SPDR fund, Financial Select Sector SPDR fund and Technology Select Sector SPDR fund
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| Amount: | $740,000
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| Maturity: | May 29, 2026
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| Coupon: | 10.8% per year; payable each month that each fund closes at or above 70% of its initial level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par if all three funds close above downside threshold levels; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par if all three funds close above initial levels on any monthly calculation date starting after six months
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| Initial levels: | $76.59 for Energy, $31.76 for Financial, $164.28 for Technology
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| Coupon barrier levels: | 70% of initial levels
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| Downside threshold levels: | 65% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agents: | Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 2.325%
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| Cusip: | 40057RXR4
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