By William Gullotti
Buffalo, N.Y., Oct. 7 – GS Finance Corp. priced $7.62 million of 0% trigger autocallable notes due July 25, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par of $10 plus a call return of 7.98% per year if the index closes at or above its initial level on any quarterly call observation date after one year.
The payout will be par plus 15.96% if the index finishes positive. The payout will be par if the index declines by up to 20%. Otherwise, investors will have full exposure to index decline from its initial level.
Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable notes
|
| Underlying index: | S&P 500
|
| Amount: | $7,621,670
|
| Maturity: | July 25, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 15.96% if the index finishes positive; par if index declines by up to 20%; otherwise, full exposure to decline
|
| Call: | At par plus 7.98% per year if index closes at or above initial level on any quarterly call observation date after six months
|
| Initial level: | 4,323.06
|
| Downside threshold: | 3,458.45; 80% of initial level
|
| Pricing date: | July 20
|
| Settlement date: | July 23
|
| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 36261B459
|
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