By Sarah Lizee
Olympia, Wash., June 23 – GS Finance Corp. priced $2.48 million of autocallable contingent coupon notes due June 19, 2025 linked to the common stock of Roku, Inc., Qualcomm Inc. and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at an annual rate of 30.7% if each stock closes at or above its coupon barrier level, 60% of its initial share price, on the observation date for that month.
Beginning in June 2023, the notes will be automatically called at par if each stock closes at or above 90% of its initial share price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its trigger level, 50% of its initial level, in which case investors will be exposed to the decline of the least-performing stock.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Roku, Inc., Qualcomm Inc. and Boeing Co.
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| Amount: | $2,483,000
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| Maturity: | June 19, 2025
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| Coupon: | 30.7%, payable monthly if each stock closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger level, in which case exposure to decline of least-performing stock
|
| Call: | Beginning in June 2023, automatically at par if each stock closes at or above 90% of initial share price on any quarterly observation date
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| Initial share prices: | $120.81 for Roku, $89.52 for Qualcomm and $197.77 for Boeing
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| Call levels: | 90% of initial share prices
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| Coupon barrier levels: | 60% of initial share prices
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| Trigger levels: | 50% of initial share prices
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| Pricing date: | June 16
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| Settlement date: | June 23
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.05%
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| Cusip: | 40057CBA8
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