By Taylor Fox
New York, Nov. 23 – GS Finance Corp. priced $7.34 million of callable contingent coupon equity-linked notes due Nov. 17, 2022 linked to the American Depositary Shares of Alibaba Group Holding Ltd. according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 13.65% if the stock closes at or above 65% of its initial level on the related observation date.
The notes are callable at par plus any coupon due on any quarterly coupon payment date starting in May 2021.
The payout at maturity will be par plus any final coupon unless the stock closes below 65% of its initial level, in which case investors will lose 1% for every 1% that the stock declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon equity-linked notes
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Underlying stock: | Alibaba Group Holding Ltd.
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Amount: | $7,338,000
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Maturity: | Nov. 17, 2022
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Coupon: | 13.65% per year, payable each quarter that stock closes at or above coupon trigger level on related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon; unless the stock finishes below 65% of its initial level, in which case investors will lose 1% for every 1% that the stock declines from initial level
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Call option: | At par plus any coupon due on any quarterly coupon payment date starting May 2021
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Initial stock level: | $260.84
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Coupon trigger level: | 65% of initial level
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Barrier level: | 65% of initial level
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Pricing date: | Nov. 13
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Settlement date: | Nov. 18
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.9%
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Cusip: | 40057EMZ7
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