By William Gullotti
Buffalo, N.Y., July 28 – GS Finance Corp. priced $8 million of 0% autocallable contingent coupon underlier-linked notes due July 24, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE 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 quarterly contingent coupon of 10.6% annually if each underlier closes at or above the 70% coupon trigger level on the corresponding observation date.
The notes will automatically be called at par plus coupon if each underlier closes at or above initial levels on any quarterly observation date.
At maturity, if each underlier finishes at or above its coupon trigger, the payout will be par plus the final coupon.
If the worst performer finishes below its coupon trigger but at or above its 65% trigger buffer level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
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 underlier-linked notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, iShares MSCI EAFE ETF
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| Amount: | $8 million
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| Maturity: | July 24, 2025
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| Coupon: | 10.6%, paid quarterly if each underlier closes at or above coupon trigger level on the corresponding observation date
|
| Price: | Par
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| Payout at maturity: | Par plus coupon if each underlier finishes at or above coupon trigger level; if worst performer finishes below coupon trigger but at or above trigger buffer, par; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly observation date
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| Initial levels: | $73.83 for ETF, 4,534.87 for S&P, 1,967.16 for Russell
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| Coupon trigger levels: | 70% of initial levels
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| Trigger buffer levels: | 65% of initial levels
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| Strike date: | July 20
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057TMG6
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