By Wendy Van Sickle
Columbus, Ohio, March 7 – GS Finance Corp. priced $9.83 million of autocallable contingent coupon underlier-linked notes due Aug. 27, 2026 linked to the Russell 2000 index, the Russell 1000 Growth index and the Utilities Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 10.5% per year if each underlying asset closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that month.
Beginning in May 2024, the notes will be automatically called at par if each underlying asset closes at or above its initial level on any monthly observation date.
The payout at maturity will be par unless the least performing asset finishes below its buffer level, 75% of its initial level, in which case investors will lose 1.3333% for each 1% decline of the least performing asset beyond 75%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
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| Underlying assets: | Russell 2000 index, Russell 1000 Growth index and Utilities Select Sector SPDR fund
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| Amount: | $9.83 million
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| Maturity: | Aug. 27, 2026
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| Coupon: | 10.5% per year, payable monthly if each underlying asset closes at or above coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless least performing asset finishes below final barrier level, in which case 1.3333% for each 1% decline of least performing asset beyond 75%
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| Call: | Beginning in May 2024, automatically at par if each underlying asset closes at or above initial level on any monthly observation date
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| Initial levels: | 2,016.688 for Russell 2000, 3,329.809 for Russell 1000 Growth and $61.96 for fund
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| Coupon barrier levels: | 75% of initial levels
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| Buffer levels: | 75% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057YEG4
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