Chicago, May 19 – GS Finance Corp. priced $2.42 million of 0% autocallable contingent coupon ETF-linked notes due May 19, 2026 tied to the VanEck Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Investors will receive an annualized 8.4% coupon, payable monthly, when the closing level of each fund is above 75% of its initial level on the related observation date. Previously unpaid coupons will also be paid.
The notes will be automatically called at par if each ETF closes at or above its initial level on any monthly call observation date after one year.
At maturity, investors will receive par if neither fund closes below its 75% buffer level.
If either ETF falls by more than 25%, investors will be exposed to the lesser performing ETF’s decline beyond the 25% buffer.
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 ETF-linked notes
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Underlying ETFs: | VanEck Gold Miners ETF and iShares Silver Trust
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Amount: | $2,419,000
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Maturity: | May 19, 2026
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Coupon: | 8.4% annual rate, payable monthly when the closing level of each fund is above its coupon barrier level on the related observation date; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | Par if neither ETF closes below its buffer level; otherwise, exposure to losses of worst performing ETF beyond 25% buffer
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Call: | Automatically at par if each ETF closes at or above initial level on any monthly call observation date after one year
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Initial levels: | $33.60 for gold, $22.02 for silver
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Coupon barrier levels: | 75% of initial levels
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Buffer levels: | 75% of initial levels
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Pricing date: | May 12
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Settlement date: | May 17
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.25%
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Cusip: | 40057RNJ3
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