Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $500,000 7% callable contingent coupon notes on ETF, stocks
New York, Feb. 7 – GS Finance Corp. priced $500,000 of callable contingent coupon underlier-linked notes due May 26, 2026 linked to the VanEck Gold Miners ETF, the common stock of Capital One Financial Corp., and the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annual coupon of 7% paid monthly if all three underliers close above the 70% coupon barrier on the related observation date.
The securities may be called at par on any monthly coupon payment date starting after six months.
The payout at maturity will be par.
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: | Callable contingent coupon underlier-linked notes
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| Underlying assets: | VanEck Gold Miners ETF, Capital One Financial Corp., and Tesla, Inc.
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| Amount: | $500,000
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| Maturity: | May 26, 2026
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| Coupon: | 7% annual rate, payable monthly if assets closes at or above coupon barrier
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| Price: | Par
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| Payout at maturity: | Par plus any final coupon
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| Call: | At par on any monthly coupon payment date starting after six months
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| Initial levels: | $31.88 for VanEck, $99.23 for Capital One, $176.89 for Tesla
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| Coupon trigger levels: | 70% of initial levels
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| Pricing date: | May 18, 2023
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| Settlement date: | May 23, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.6%
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| Cusip: | 40057RU71
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