By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – GS Finance Corp. priced $1.63 million of market-linked securities – autocallable with contingent coupon and contingent downside due Sept. 27, 2027 linked to the Energy Select Sector SPDR fund and SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.65% paid quarterly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting in March 2024 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par plus any contingent coupon unless any ETF finishes below its 70% downside threshold, in which case investors will have full exposure to the loss of worst-performing ETF.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
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| Underlying ETFs: | Energy Select Sector SPDR fund and SPDR S&P 500 ETF trust
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| Amount: | $1.63 million
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| Maturity: | Sept. 27, 2027
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| Coupon: | 12.65% paid quarterly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par plus any contingent coupon unless any ETF finishes below downside threshold, in which case full exposure to loss of worst-performing ETF
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| Call: | Automatically starting in March 2024 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $89.31 for Energy Select, $143.42 for SPDR S&P 500
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| Coupon barriers: | 70% of initial levels
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| Downside thresholds: | 70% of initial levels
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 2.425%
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| Cusip: | 40057WAE7
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