By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – GS Finance Corp. priced $3.21 million of autocallable contingent coupon equity-linked securities due Nov. 27, 2023 linked to the SPDR S&P Biotech ETF and the Technology Select Sector SPDR fund, 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 semiannual coupon at an annual 7.75% rate if each fund closes above the coupon barrier price, 65% of the initial price, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each fund closes at or above its initial share price on any observation date after six months.
If the notes are not called and the final share price of each fund is greater than or equal to the trigger price, 65% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline of the share price of the least performing fund.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying funds: | SPDR S&P Biotech ETF and Technology Select Sector SPDR fund
|
| Amount: | $3,205,000
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| Maturity: | Nov. 27, 2023
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| Coupon: | 7.75%; payable semiannually if closing price of each fund is greater than or equal to 65% of initial share price on any quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each fund closes at or above 65% of its initial share price; otherwise, full exposure to decline of least performing fund
|
| Call: | At par plus contingent coupon if closing share price of least performing fund is greater than or equal to initial share price on any observation date after six months
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| Initial share prices: | $126.04 for Biotech, $120.11 for Technology Select
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| Coupon barrier/trigger prices: | 65% of initial share prices
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.75%
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| Cusip: | 40057EMT1
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