By Kiku Steinfeld
Chicago, Oct. 18 – GS Finance Corp. priced $1.39 million of 8.5% autocallable contingent coupon equity-linked securities due Feb. 27, 2024 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.5% if the stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless the stock finishes below the 70% trigger level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
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 equity-linked securities
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| Underlying stock: | Apple Inc.
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| Amount: | $1,386,000
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| Maturity: | Feb. 27, 2024
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| Coupon: | 8.5% annualized, payable quarterly, if the stock closes at or above the coupon barrier price on the valuation date for that period
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| Price: | Par
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| Call: | At par plus the coupon if the stock closes at or above its initial level on any quarterly call observation date after six months
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| Payout at maturity: | Par unless the stock finishes below the trigger level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
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| Initial level: | $167.30
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| Trigger level: | 70% of initial level
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| Pricing date: | Feb. 18, 2022
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| Settlement date: | Feb. 28, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.5%
|
| Cusip: | 40057L5J6
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