Chicago, Oct. 25 – GS Finance Corp. priced $10 million of contingent income buffered autocallable securities due Oct. 21, 2024 tied to the SPDR S&P Biotech 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 19.2% contingent quarterly coupon if the ETF closes above its 90% buffer price on the related observation date. Previously unpaid coupons will also be paid.
The notes will be automatically called on any quarterly observation date if the ETF closes above its initial level.
Investors will receive par if the ETF finishes above its 90% buffer level.
Otherwise, investors will lose 1.1111% for each 1% decline beyond the 10% buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income buffered autocallable securities
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| Underlying ETF: | SPDR S&P Biotech
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| Amount: | $10,000,000
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| Maturity: | Oct. 21, 2024
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| Coupon: | 19.2% annual rate, payable quarterly if ETF closes above buffer level on related observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par if ETF finishes above buffer level; otherwise, 1.1111% for each 1% decline beyond 10% buffer
|
| Call: | At par on any quarterly observation date if ETF closes above initial level
|
| Initial value: | $69.60
|
| Buffer value: | 90% of initial level
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.1%
|
| Cusip: | 40057WR90
|
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