Published on 9/16/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.12 million callable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, Sept. 16 – GS Finance Corp. priced $2.12 million of callable contingent coupon index-linked notes due Aug. 2, 2023 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at annual rate of 7.5% if each index closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly coupon payment date beginning after six months.
The payout at maturity will be par plus any final coupon unless any index finishes below its 60% barrier, in which case investors will lose 1% for each 1% decline of the lesser performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $2,122,000
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| Maturity: | Aug. 2, 2023
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| Coupon: | 7.5%, payable quarterly if each index closes at or above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus coupon if each index finishes above barrier level; otherwise, 1% loss for each 1% decline of lesser performer index from initial level
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| Call option: | At par plus any coupon due on any quarterly coupon payment date after six months
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| Initial levels: | 14,454.61 for Nasdaq, 4,431.85 for S&P, 1,968.51 for Russell
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| Coupon barriers: | 75% of initial levels
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| Barrier values: | 60% of initial levels
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| Pricing date: | Jan. 28, 2022
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| Settlement date: | Feb. 2, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 40057KW66
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