By Sarah Lizee
Olympia, Wash., Aug. 20 – GS Finance Corp. priced $6.66 million of contingent income autocallable securities due Aug. 17, 2023 linked to the common stocks of Apple Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The guarantor is Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 9.55% if the stocks close at or above their 55% downside thresholds on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stocks close at or above their initial levels on any quarterly determination date.
The payout at maturity will be par of $10 plus any coupon unless either stock finishes below its 55% downside threshold, in which case investors will lose 1% for each 1% share price decline of the lesser performing stock.
Goldman Sachs & Co. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Apple Inc. and Amazon.com, Inc.
|
| Amount: | $6,658,970
|
| Maturity: | Aug. 17, 2023
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| Coupon: | 9.55% annualized, payable each quarter that stocks close at or above downside threshold levels on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless either stock finishes below its downside threshold, in which case investors will lose 1% for each 1% share price decline of the lesser performing stock
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any determination date
|
| Initial share price: | $459.63
|
| Downside threshold: | $252.7965, 55% of initial price
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
|
| Agent: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.675%
|
| Cusip: | 36259L246
|
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