By William Gullotti
Buffalo, N.Y., Nov. 18 – GS Finance Corp. priced $2.52 million of autocallable contingent coupon equity-linked notes due Nov. 22, 2024 linked to the stocks of Apple Inc., Boeing Co., JPMorgan Chase & Co. and McDonald’s Corp., 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 annual rate of 10% if each stock closes above its coupon barrier price, 65% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the 65% final barrier, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| 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 stocks: | Apple Inc., Boeing Co., JPMorgan Chase & Co., McDonald’s Corp.
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| Amount: | $2,523,000
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| Maturity: | Nov. 22, 2024
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| Coupon: | 10% annual rate; payable quarterly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock closes at or above 65% of its initial share price; otherwise, full exposure to decline of least performing stock from initial share price
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any quarterly observation date after six months
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| Initial share prices: | $150.00 for Apple, $233.09 for Boeing, $166.56 for JPMorgan, $252.94 for McDonald’s Rentals
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| Coupon barrier prices: | 65% of initial levels
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| Final barrier prices: | 65% of initial levels
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 18
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 40057K4V2
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