By Kiku Steinfeld
Chicago, Sept. 18 – GS Finance Corp. priced $776,000 of autocallable contingent coupon index-linked notes due Sept. 10, 2024 linked to 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.
Each month, the notes pay a contingent coupon at a rate of 8% per year if each index closes at or above 70% of its initial level on the observation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any monthly call observation date starting after six months.
The payout at maturity will be par if both indexes close above their 70% trigger buffer levels. Otherwise, investors will lose 1% for each 1% decline of the worst performer.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $776,000
|
| Maturity: | Sept. 10, 2024
|
| Coupon: | 8% per year; payable each month that each index closes at or above 70% of its initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if both indexes close above their trigger buffer levels; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly call observation date after six months
|
| Initial index levels: | 4,045.64 for S&P, 1,928.263 for Russell
|
| Coupon trigger levels: | 70% of initial levels
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | March 3, 2023
|
| Settlement date: | March 8, 2023
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.9%
|
| Cusip: | 40057PQR6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
