Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $235,000 autocallable index-linked notes on Russell, S&P
Chicago, May 24 – GS Finance Corp. priced $235,000 of 0% autocallable index-linked notes due July 8, 2025 tied to 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 annual call observation date starting after one year, the notes will be called at par plus an 11.5% 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 34.5% maturity date premium.
If the worst performer declines but finishes at or above 60% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 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: | S&P 500 index, Russell 2000 index
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| Amount: | $235,000
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| Maturity: | July 8, 2025
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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 34.5%; if worst performer finishes above 60% of initial level, par; otherwise, lose 1% for each 1% decline of the worst performer from initial level
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| Call: | If each index closes at or above initial level on any annual call observation date starting after one year, notes will be called at par plus an 11.5% annualized call premium
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| Initial index levels: | 3,785.38 for S&P, 1,707.99 for Russell
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | June 30, 2022
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| Settlement date: | July 6, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.59%
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| Cusip: | 40057MB73
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