Chicago, Aug. 25 – GS Finance Corp. priced $80,000 of autocallable contingent coupon notes due Jan. 26, 2024 linked to the lowest performing of the Dow Jones industrial average and the ARK Innovation 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 if each asset closes at or above its 80% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 8%.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par plus any coupon due unless either asset finishes below 80% of its initial level, in which case investors will be exposed to the decline of the least performing asset beyond the 20% 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 notes
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| Underlying assets: | Dow Jones industrial average and the ARK Innovation ETF
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| Amount: | $80,000
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| Maturity: | Jan. 26, 2024
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| Contingent coupon: | 8% annual rate, payable monthly if each asset closes at or above coupon trigger level on the determination date for that period
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless either asset finishes below buffer level, in which case investors will be exposed to the decline of the least performing asset beyond 20% buffer
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date after six months
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| Initial asset levels: | 35,028.65 for Dow and $75.75 for ARK
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| Coupon trigger levels: | 80% of initial levels
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 40057KQC0
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