By Kiku Steinfeld
Chicago, Aug. 10 – GS Finance Corp. priced $999,000 of autocallable contingent coupon ETF-linked notes due July 19, 2023 tied to the ARK Innovation ETF, 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 monthly coupon at an annual rate of 13% if the ETF closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if the ETF closes at or above its initial level on any monthly call observation date starting in April 2022.
If the notes are not called and the ETF closes at or above 70% of initial value, the payout will be par.
If the ETF falls by more than 30%, investors will be fully exposed to the ETF’s decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon ETF-linked notes
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Underlying ETF: | ARK Innovation ETF
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Amount: | $999,000
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Maturity: | July 19, 2023
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Coupon: | 13% annualized rate, payable monthly if the ETF closes at or above coupon trigger level, on valuation date for that period
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Price: | Par
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Payout at maturity: | If the ETF finishes at or above trigger barrier level, par; if the ETF falls by more than trigger buffer level, full exposure to losses
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Call: | At par plus coupon if the ETF closes at or above its initial level on any monthly call observation date starting in April 2022
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Initial ETF level: | $84.56
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Trigger buffer level: | 70% of initial level
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Coupon trigger level: | 70% of initial level
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Pricing date: | Jan. 12
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Settlement date: | Jan. 18
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.37%
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Cusip: | 40057KND1
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