Published on 3/13/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $192,000 underlier-linked notes tied to indexes, ETF
Chicago, March 13 – GS Finance Corp. priced $192,000 of autocallable contingent coupon underlier-linked notes due May 27, 2025 linked to the Russell 2000 index, the Russell 2000 Value index and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Investors will receive an 11.98% monthly coupon if each underlier closes above 70% of its initial level on the related observation date.
If all three underliers close above their initial levels on any monthly coupon observation date after three months, the notes will be called at par.
If each underlier finishes at or above 60% of initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% that the worst performer declines from its initial value.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
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| Underlying assets: | Russell 2000 index, the Russell 2000 Value index, Technology Select Sector SPDR fund
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| Amount: | $192,000
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| Maturity: | May 27, 2025
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| Coupon: | 11.98% annual rate, payable monthly if all three assets close above their coupon barrier levels on the related observation date
|
| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above barrier level, par; otherwise, 1% loss for every 1% decline of worst performer from initial value
|
| Call: | Automatically at par if all three assets close above their initial levels any monthly coupon observation date after three months
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| Initial values: | 1,774.846 for Russell, 2,162.611 for Value, $132.22 for fund
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| Coupon barrier levels: | 70% of initial levels
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| Barrier level: | 60% of initial levels
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| Pricing date: | May 18, 2022
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| Settlement date: | May 23, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.21%
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| Cusip: | 40057M3F4
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