Published on 8/7/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $591,000 autocallable contingent coupon notes on indexes, ARK ETF
By Kiku Steinfeld
Chicago, Aug. 8 – GS Finance Corp. priced $591,000 of autocallable contingent coupon notes due Jan. 18, 2030 linked to the ARK Innovation ETF, the Nasdaq-100 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 of 8.5% per annum if each asset closes at or above its 70% coupon barrier level on the determination date for that quarter.
After one year, the notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any asset finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the least-performing asset.
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: | Autocallable contingent coupon notes
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| Underlying assets: | ARK Innovation ETF, Nasdaq-100 and Russell 2000 indexes
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| Amount: | $591,000
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| Maturity: | Jan. 18, 2030
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| Contingent coupon: | 8.5% annualized, payable quarterly if each component closes at or above 70% coupon barrier level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its 60% trigger level, in which case 1% loss for each 1% decline of lesser-performing asset
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| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly determination date after one year
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| Initial levels: | $86.98 for ETF, 15,844.12 for Nasdaq, 2,194.003 for Russell
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| Coupon barriers: | 70% of initial levels
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| Trigger levels: | 60% of initial levels
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 40057KQ71
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