By Wendy Van Sickle
Columbus, Ohio, June 20 – GS Finance Corp. priced $10 million of contingent income buffered autocallable securities due June 17, 2024 linked to the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.1504%, paid monthly, if the underlying ETF closes at or above its 90% downside threshold on the related observation date. Previously unpaid coupons will also be paid.
The securities will be called starting July 5 and on any subsequent monthly determination date if the ETF closes above its initial level.
At maturity the payout will be par unless the ETF declines by more than its 10% buffer in which case investors will be exposed to 111.11% of the decline of the ETF beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income buffered autocallable securities
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| Underlying ETF: | Invesco S&P 500 Equal Weight ETF
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| Amount: | $10 million
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| Maturity: | June 17, 2024
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| Coupon: | 11.1504% annual rate, paid monthly, if the underlying ETF closes at or above its downside threshold on the related monthly observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par if ETF gains or loses no more than its 10% buffer, otherwise investors will be exposed to 111.11% of the decline in the ETF beyond the buffer
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| Call: | At par starting July 5 and on any subsequent monthly determination date if ETF closes above initial level
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| Initial level: | $145.16
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| Buffer level: | $130.644, 90% of initial level
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| Buffer: | 10%
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| Downside leverage: | 111.11%
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| Pricing date: | June 12
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| Settlement date: | June 15
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 40057TBS2
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