By William Gullotti
Buffalo, N.Y., Oct. 29 – GS Finance Corp. priced $544,000 of 0% autocallable ETF-linked notes due Aug. 5, 2024 tied to the ARK Innovation ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF closes at or above its initial level on July 27, 2022, the notes will be called at par plus a 19% call premium.
If the notes are not called and each ETF finishes at or above its initial level, the payout will be par double the return of the lesser performing fund.
If the worst performer finishes above 70% of its initial level, the payout will be par.
If any ETF falls by more than 30%, investors will be exposed to the decline of the lesser-performing ETF from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable ETF-linked notes
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| Underlying funds: | ARK Innovation ETF, VanEck Vectors Gold Miners ETF
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| Amount: | $544,000
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| Maturity: | Aug. 5, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the notes are not called and each ETF finishes at or above its initial level, par plus two times the return of the lesser performing ETF; if worst performer finishes above 70% of initial level, par; if any ETF falls by more than 30%, investors will be exposed to the decline of the lesser-performing ETF from its initial level
|
| Call: | If each ETF closes at or above initial level on July 27, 2022, notes will be called at par plus a 19% call premium
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| Initial ETF levels: | $118.62 for ARK, $33.68 for VanEck
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.76%
|
| Cusip: | 40057HX88
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