By Kiku Steinfeld
Chicago, May 20 – GS Finance Corp. priced $2.59 million of autocallable contingent coupon equity-linked notes due May 2, 2023 linked to Netflix, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the barrier level, 69.9% of the initial price, on the determination date for that quarter, the notes will pay a contingent quarterly coupon at an annual rate of 8%, in which case any previously unpaid coupons will also be paid.
The notes will be called at par plus any previously unpaid coupons if the stock closes at or above the initial stock price on any determination date.
The payout at maturity will be par plus any previously unpaid coupons unless the stock finishes below 69.9% of its initial price, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the underwriter with J.P. Morgan Securities LLC acting as the placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Netflix, Inc.
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| Amount: | $2,590,000
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| Maturity: | May 2, 2023
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| Coupon: | 8% per year, payable quarterly plus any previously unpaid coupons if stock closes at or above barrier level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above 69.9% of its initial level, par plus any previously unpaid coupons; otherwise 1% loss for each 1% decline of stock
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| Call: | At par plus any previously unpaid coupons if stock closes at or above initial stock price on any quarterly determination date
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| Initial stock price: | $505.55
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| Barrier level: | 69.9% of initial stock price
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Underwriter: | Goldman Sachs & Co. LLC with J.P. Morgan Securities LLC as placement agent
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| Fees: | 1.5%
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| Cusip: | 40057H4F4
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