Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $556,000 autocallable index-linked notes on Russell Value, S&P
Chicago, May 24 – GS Finance Corp. priced $556,000 of 0% autocallable index-linked notes due July 8, 2025 tied to the S&P 500 index and the Russell 2000 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on June 29, 2023, the notes will be called at par plus a 15.5% call premium.
If the notes are not called and each index finishes above its initial level, the payout will be par plus 150% of the return of the lesser performer.
If the worst performer declines but finishes at or above 80% of its initial level, the payout will be par.
If any index falls by more than 20%, investors will be fully exposed to the losses of the worse performer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 Value index
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| Amount: | $556,000
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| Maturity: | July 8, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes above its initial level, par plus 1.5 times return of lesser performing index return; if worst performer declines but finishes at or above 80% of initial level, par; otherwise, investors will be fully exposed to the decline of the worse performing index
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| Call: | If each index closes at or above initial level on June 29, 2023, par plus a 15.5% call premium
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| Initial index levels: | 3,818.83 for S&P, 2,049.155 for Russell Value
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | June 29, 2022
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| Settlement date: | July 5, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.2%
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| Cusip: | 40057MAB5
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