Published on 6/28/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $524,000 callable contingent coupon notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, June 28 – GS Finance Corp. priced $524,000 of callable contingent coupon index-linked notes due Aug. 7, 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 7.4% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after one year.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% trigger value, in which case investors will lose 1% for every 1% that the worst performer finishes below 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: | $524,000
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| Maturity: | Aug. 7, 2024
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| Coupon: | 7.4% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call: | At par plus any coupon due on any quarterly call observation date after one year
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| Initial index levels: | 12,803.14 for Nasdaq, 4,179.76 for S&P, 2,001.221 for Russell
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| Trigger buffer levels: | 70% of initial levels
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| Coupon trigger levels: | 70% of initial levels
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| Pricing date: | Feb. 2, 2023
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| Settlement date: | Feb. 7, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.225%
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| Cusip: | 40057PHS4
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