Published on 8/13/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1 million autocallable index-linked notes on Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Aug. 15 – GS Finance Corp. priced $1 million of 0% autocallable index-linked notes due Jan. 21, 2026 tied to the Dow Jones industrial average index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on any biannual call date after one year, the notes will be called at par plus a 6.55% annualized call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus the lowest index return.
If the worst performer declines but finishes at or above 65% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index-linked notes
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| Underlying indexes: | Dow Jones industrial average index, S&P 500 index, Russell 2000 index
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| Amount: | $1,000,000
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| Maturity: | Jan. 21, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus lowest return; if worst performer finishes above trigger buffer, par; otherwise, investors will lose 1% for every 1% decline of the worst performer
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| Call: | If each index closes at or above initial level on any biannual call date after one year, notes will be called at par plus 6.55% per year
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| Initial index levels: | 36,113.62 for Dow, 4,659.03 for S&P, 2,159.437 for Russell
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| Trigger buffer levels: | 65% of initial levels
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| Pricing date: | Jan. 13
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| Settlement date: | Jan. 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057KSX2
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