Chicago, Sept. 16 – GS Finance Corp. priced $2.99 million of autocallable contingent coupon basket-linked notes due Nov. 1, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Equally weighted, the basket is comprised of the common stocks of American Airlines Group Inc., United Airlines Holdings, Inc., JetBlue Airways Corp. and Spirit Airlines, Inc.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 11% if the basket closes at or above the coupon trigger level, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the basket closes at or above the initial level on any quarterly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 60% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the basket.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying basket: | American Airlines Group Inc., United Airlines Holdings, Inc., JetBlue Airways Corp. and Spirit Airlines, Inc., equal weights
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| Amount: | $2,985,000
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| Maturity: | Nov. 1, 2024
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| Coupon: | 11% annually, payable monthly, if basket closes at or above coupon trigger level on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | If notes are not called and final level is greater than or equal to trigger buffer level, par plus final coupon; otherwise, full exposure to decline in the basket
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| Call: | Automatically at par plus contingent coupon if basket closes at or above initial level on any quarterly valuation date after six months
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| Initial stock prices: | $16.46 for American, $41.78 for United, $13.73 for JetBlue, $21.72 for Spirit
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| Coupon trigger level: | 70% of initial level
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| Trigger buffer level: | 60% of initial level
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057KSA2
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