By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $500,000 of callable contingent income equity-linked notes due May 4, 2023 linked to Walt Disney Co. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at a 9% annual rate if the underlying stock closes at or above its 75% downside threshold on any quarterly observation date.
The notes may be called at par on any quarterly coupon payment date at the option of the issuer.
If the underlying stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Goldman Sachs Group, Inc.
The agent is Goldman Sachs & Co. LLC.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Walt Disney Co.
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| Amount: | $500,000
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| Maturity: | May 4, 2023
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| Coupon: | 9% annually, payable quarterly if each stock closes at or above downside threshold on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to any losses
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| Call option: | At par on any quarterly coupon payment date at the option of the issuer
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| Initial share price: | $186.02
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| Downside threshold: | 75% of initial price
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| Pricing date: | April 30, 2021
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| Settlement date: | May 5, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057HAE0
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