By Kiku Steinfeld
Chicago, April 30 – GS Finance Corp. priced $3.14 million of 0% market-linked securities – autocallable with leveraged upside participation and contingent downside due Aug. 3, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be redeemed early at par plus an 8.8% call premium if the index closes at or above its initial level on Aug. 5, 2024.
If the notes are not called, the payout at maturity will be par plus 150% of any gain in the index.
Investors will receive par if the index declines by no more than 25% and will otherwise lose 1% for every 1% decline of the index from initial level.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Market-linked securities – autocallable with leveraged upside participation and contingent downside
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Underlying: | S&P 500
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Amount: | $3,135,000
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Maturity: | Aug. 3, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain; if index falls by up to 25%, par; otherwise, 1% loss for every 1% decline of index from initial level
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Call: | Automatically at par plus 8.8% if index closes at or above initial level on Aug. 5, 2024
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Initial level: | 4,588.96
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Trigger level: | 75% of initial level
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Pricing date: | July 31, 2023
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Settlement date: | Aug. 3, 2023
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Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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Fees: | 2.575%
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Cusip: | 40057TH64
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