By William Gullotti
Buffalo, N.Y., June 9 – GS Finance Corp. priced $1.3 million of autocallable contingent coupon index-linked notes due June 4, 2027 tied to the S&P 500 index and the Dow Jones industrial average, 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 monthly coupon at an annual rate of 5.55% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any monthly call observation date starting Nov. 27, 2023.
If the notes are not called and each index finishes at or above the 80% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be exposed to the decline of the worst performer beyond 20%.
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 contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average
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| Amount: | $1,296,000
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| Maturity: | June 4, 2027
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| Coupon: | 5.55% annualized rate, payable monthly if each index closes at or above coupon trigger level on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger buffer level, par plus final coupon; otherwise, 1% loss for every 1% decline of worst performer below 20%
|
| Call: | At par plus coupon if each index closes at or above its initial level on any monthly call observation date starting Nov. 27, 2023
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| Initial index levels: | 4,158.24 for S&P, 33,212.96 for Dow
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| Trigger buffer levels: | 80% of initial levels
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| Coupon trigger levels: | 75% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057M3R8
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