By Kiku Steinfeld
Chicago, Feb. 5 – GS Finance Corp. priced $916,000 of autocallable contingent coupon ETF-linked notes due June 24, 2025 linked to the worst performing of the Invesco QQQ Trust, Series 1, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, 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 of 9.2% per annum if each fund closes at or above its 70% coupon trigger level on the observation date for that month.
The notes will be called at par if each fund closes at or above its initial level on any monthly observation date after six months.
The payout at maturity will be par unless any fund closes below 70% of its initial level, in which case investors will be fully exposed to the decline of the least performing fund from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying ETFs: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF
|
| Amount: | $916,000
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| Maturity: | June 24, 2025
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| Contingent coupon: | 9.2% annualized, payable monthly if each fund closes at or above 75% coupon trigger level on the observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund closes below 70% of its initial level, in which case investors will be fully exposed to the decline of the least performing fund from its initial level
|
| Call: | Automatically at par if each fund closes at or above initial level on any monthly observation date after six months
|
| Initial fund levels: | $367.93 for QQQ, $439.46 for SPDR, $185.94 for iShares
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| Coupon trigger levels: | 70% of initial levels
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| Agent: | Goldman Sachs & Co. LLC
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| Pricing date: | June 16, 2023
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| Settlement date: | June 22, 2023
|
| Fees: | 0.775%
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| Cusip: | 40057TCN2
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