Chicago, Aug. 15 – GS Finance Corp. priced $2.31 million of 0% autocallable contingent coupon ETF-linked notes due Aug. 4, 2025 tied to the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Investors will receive a 10.85% coupon, payable monthly, when the closing level of each fund is above 75% of its initial level on the related observation date.
The notes will be automatically called at par if each ETF closes at or above its initial level on any monthly call observation date after one year.
At maturity, investors will receive par if neither fund closes below its 75% buffer level.
If either ETF falls by more than 25%, investors will be exposed to the lesser performing ETF’s decline beyond the 25% buffer.
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 ETFs: | VanEck Vectors Gold Miners ETF and iShares Silver Trust
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| Amount: | $2,307,000
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| Maturity: | Aug. 4, 2025
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| Coupon: | 10.85% annual rate, payable monthly when the closing level of each fund is above its coupon barrier level on the related observation date
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| Price: | Par
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| Payout at maturity: | Par if neither ETF closes below its buffer level; otherwise, exposure to losses of worst performing ETF beyond buffer
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| Call: | Automatically at par if each ETF closes at or above initial level on any monthly call observation date after one year
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| Initial levels: | $25.10 for gold, $17.16 for silver
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| Coupon barrier levels: | 75% of initial levels
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| Buffer levels: | 75% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 40057MNL9
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