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Published on 5/8/2023 in the Prospect News Structured Products Daily.

New Issue: GS Finance sells $20 million autocallable contingent coupon index-linked notes on S&P

By Wendy Van Sickle

Columbus, Ohio, May 8 – GS Finance Corp. priced $20 million of autocallable contingent coupon index-linked notes due May 8, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the index closes at or above its 87% coupon trigger level on the corresponding observation date, investors will receive a contingent monthly coupon of 12.3% per year, plus any previously unpaid coupons.

The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any monthly observation date.

The payout at maturity will be par unless any asset closes below 87% of its initial level, in which case investors will lose 1.1494% for each 1% index decline beyond 13%

Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement agent.

Issuer:GS Finance Corp.
Guarantor:Goldman Sachs Group, Inc.
Issue:Autocallable contingent coupon notes
Underlying index:S&P 500 index
Amount:$20 million
Maturity:May 8, 2024
Contingent coupon:12.3% annualized, payable monthly if the index closes at or above coupon trigger level on the corresponding monthly observation date, plus any previously unpaid coupons
Price:Par
Payout at maturity:Par unless index closes below 87% of its initial level, in which case 1.1494% loss for each 1% index decline beyond 13%
Call:Automatically at par plus contingent coupon if the index closes at or above initial level on any monthly observation date
Initial levels:4,119.58
Coupon trigger level:87% of initial level
Trigger level:87% of initial level
Pricing date:May 3
Settlement date:May 8
Agent:Goldman Sachs & Co. LLC
Placement agent:JPMorgan
Fees:0.1%
Cusip:40057RT40

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