By Sarah Lizee
Olympia, Wash., Sept. 4 – GS Finance Corp. priced $12.12 million of 0% bearish autocallable notes due Dec. 1, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par if the index’s closing level has declined from the initial level by more than 27% on any day during the life of the notes.
At maturity, if the final index level decreases from the initial index level by more than 27%, the payout will be par.
If the final index level decreases from the initial index level but not by more than 27%, the payout will be par plus the absolute value of the index return.
If the final index level is equal to the initial index level or increases from the initial index level by up to 5%, the payout will be par.
If the final index level increases from the initial index level by more than 5%, investors will lose 1% for every 1% increase of the index beyond 5%, subject to a minimum payout of 95% of par.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish autocallable notes
|
| Underlying index: | S&P 500
|
| Amount: | $12,123,000
|
| Maturity: | Dec. 1, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level decreases from the initial index level by more than 27%, par; if final index level decreases from the initial index level but not by more than 27%, par plus the absolute value of the index return; if final index level is equal to the initial index level or increases from the initial index level by up to 5%, par; if final index level increases from the initial index level by more than 5%, 1% loss for every 1% increase of the index beyond 5%, subject to a minimum payout of 95% of par
|
| Call: | Automatically at par if index’s closing level has declined from initial level by more than 27% on any day during life of notes
|
| Initial level: | 3,500.31
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 3
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.525%
|
| Cusip: | 40057CSE2
|
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