By William Gullotti
Buffalo, N.Y., Dec. 23 – GS Finance Corp. priced $2.49 million of 0% bearish autocallable notes due Dec. 21, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par if the index’s closing level has declined from the initial level by more than 31% on any day during the life of the notes.
At maturity, if the index decreases from its initial level by more than 31%, the payout will be par.
If the final index level decreases from the initial index level by no more than 31%, the payout will be par plus the absolute value of the index return.
If the index finishes flat or gains by up to 5%, the payout at maturity will be par.
If the index gains more than 5%, investors will lose 1% for every 1% increase of the index beyond 5%, subject to a minimum payout at maturity of 90% of par.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish autocallable notes
|
| Underlying index: | S&P 500
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| Amount: | $2,485,000
|
| Maturity: | Dec. 21, 2022
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final index level decreases from the initial index level by more than 31%, par; if the index declines by up to 31%, par plus the absolute value of the index return; if the index finishes flat or gains by up to 5%, par; otherwise, lose 1% for every 1% gain above 5%, subject to a minimum payout of 90% of par
|
| Call: | Automatically at par if index’s closing level has declined from initial level by more than 31% on any day during the life of the notes
|
| Initial level: | 4,712.02
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| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40057KHP1
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