By Kiku Steinfeld
Chicago, Dec. 13 – GS Finance Corp. priced $769,000 of autocallable continent coupon ETF-linked notes due Dec. 3, 2024 linked to the VanEck Vectors Gold Miners ETF and the VanEck Oil Services ETF, 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 monthly coupon at an annualized rate of 11.4% if each asset closes at or above its coupon trigger, 80% of its initial level, on any monthly observation date.
The notes will be called at par if each underlier closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and each underlier closes at or above its buffer level, 80% of its initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing underlier beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying assets: | VanEck Vectors Gold Miners ETF and VanEck Oil Services ETF
|
| Amount: | $769,000
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| Maturity: | Dec. 3, 2024
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| Coupon: | 11.4%, payable monthly if each underlier closes at or above its coupon trigger on observation date
|
| Price: | Par
|
| Call: | At par if each underlier closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par if each underlier closes at or above its buffer level; otherwise, exposure to losses of lesser-performing underlier beyond 20%
|
| Initial levels: | $32.50 for gold and $192.31 for oil
|
| Coupon trigger levels: | 80% of initial levels
|
| Buffer levels: | 80% of initial levels
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 29
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 40057K3M3
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