By Angela McDaniels
Tacoma, Wash., April 18 – GS Finance Corp. priced $730,000 of market linked securities – autocallable with contingent coupon and contingent downside due July 18, 2024 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 9.6% per year if the stock closes at or above the downside threshold, 50% of the initial share price, on the related calculation date.
The notes will be automatically called at par if the stock closes at or above its initial share price on any monthly calculation date from January 2024 to June 2024.
If the notes are not called, the payout at maturity will be par unless the stock finishes below its downside threshold, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. Wells Fargo Securities, LLC is the agent.
| 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 stock: | Halliburton Co.
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| Amount: | $730,000
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| Maturity: | July 18, 2024
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| Coupon: | 9.6% per year, payable monthly if stock closes at or above downside threshold on related calculation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below downside threshold, in which case 1% loss for every 1% that stock declines from initial share price
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| Call: | Automatically at par if stock closes at or above initial share price on any monthly calculation date from January 2024 to June 2024
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| Initial share price: | $36.89
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| Downside threshold: | 50% of initial share price
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| Pricing date: | July 14, 2023
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| Settlement date: | July 19, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Agent: | Wells Fargo Securities, LLC
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| Fees: | 1.325%
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| Cusip: | 40057THL1
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