By William Gullotti
Buffalo, N.Y., Oct. 1 – GS Finance Corp. priced $1.56 million of autocallable contingent coupon index-linked notes due Jan. 24, 2023 tied to the Russell 2000 Value index and the Dow Jones industrial average, 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 annual rate of 6% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes will be called at par plus the coupon if each index closes at or above its initial index level on any monthly call observation date after six months.
If the notes are not called and each index closes at or above the 75% trigger buffer level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the decline of the least-performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | Russell 2000 Value index, Dow Jones industrial average
|
| Amount: | $1,558,000
|
| Maturity: | Jan. 24, 2023
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| Coupon: | 6% annualized rate, payable monthly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger buffer level, par plus final coupon; if any index falls by more than 25%, full exposure to losses
|
| Call: | At par plus coupon if each index closes at or above its initial level on any monthly call observation date after six months
|
| Initial index levels: | 2,372.112 for Russell Value, 34,933.23 for Dow
|
| Trigger buffer level: | 75% of initial levels
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| Coupon trigger level: | 75% of initial levels
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| Pricing date: | July 14
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| Settlement date: | July 19
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.4%
|
| Cusip: | 40057HUQ1
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