By Marisa Wong
Los Angeles, July 29 – GS Finance Corp. priced $1,503,000 of 0% index-linked notes due Aug. 9, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is zero or positive, the payout at maturity will be par plus the index return, subject to a maximum settlement amount of $1,070 per $1,000 principal amount.
If the index falls by up to 31%, the payout will be par plus the absolute value of the index return.
If the index finishes below 69% of the initial level, investors will be fully exposed to the index decline.
Goldman Sachs & Co. LLC is the underwriter. JPMorgan is working as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,503,000
|
| Maturity: | Aug. 9, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped at par plus 7%; if index falls by up to 31%, par plus absolute value of index return; otherwise, full exposure to losses
|
| Initial level: | 3,961.63
|
| Final level: | Average of index closing levels on five trading dates ending Aug. 4, 2023
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Agent: | Goldman Sachs & Co. LLC
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%, including selling concession of up to 1%
|
| Cusip: | 40057MQ69
|
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