By Kiku Steinfeld
Chicago, Aug. 5 – GS Finance Corp. priced $2.03 million of autocallable contingent coupon equity-linked securities due July 23, 2027 linked to the stocks of Apple Inc., Amazon.com, Inc., Boeing Co. and Airbnb, Inc., 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 quarterly coupon at a yearly rate of 15.85% if each stock closes above the barrier price, 70% of the initial price, on the determination date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the final barrier price, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline in the share price of the least performing stock.
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: | Autocallable contingent coupon equity-linked securities
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Underlying stocks: | Apple Inc., Amazon.com, Boeing Co. and Airbnb, Inc.
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Amount: | $2,031,000
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Maturity: | July 23, 2027
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Coupon: | 15.85% per year, payable quarterly if closing price of each stock is greater than or equal to 70% of initial share price on determination date for that period
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Price: | Par
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Payout at maturity: | Par if each stock closes at or above 60% of its initial share price; otherwise, full exposure to decline of least performing stock
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Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly observation date after six months
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Initial share prices: | $146.39 for Apple, $3,573.63 for Amazon, $217.74 for Boeing, $134.31 for Airbnb
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Coupon barrier prices: | 70% of initial share prices
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Final barrier prices: | 60% of initial share prices
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Pricing date: | July 16
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Settlement date: | July 21
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.25%
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Cusip: | 40057HU99
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