Published on 4/25/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.83 million callable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., April 25 – GS Finance Corp. priced $2.83 million of callable contingent coupon index-linked notes due April 24, 2024 tied to the Nasdaq-100 index, the S&P 500 Index and the Russell 2000 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 an annual rate of 13% if each index closes at or above the coupon trigger level, 75% of the initial level, on every trading day during the observation period.
The notes may be called at par plus any coupon due on any quarterly call observation date after six months.
If the notes have not been called and each index finishes at or above its 75% trigger buffer level, the payout at maturity will be par plus any coupon due. Otherwise, investors will be fully exposed to the decline of the worst 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: | S&P 500 Index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $2.83 million
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| Maturity: | April 24, 2024
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| Coupon: | 13% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on every trading day during the observation period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its trigger buffer level, par plus any final coupon due; otherwise, 1% loss for every 1% decline of worst performer from initial level
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| Call: | At par plus any coupon due on any quarterly call observation date after six months
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| Initial index levels: | 4,462.21 for S&P, 2,030.765 for Russell, 14,210.26 for Nasdaq
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| Trigger buffer levels: | 75% of initial levels
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| Coupon trigger levels: | 75% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 22
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057LSA0
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