By Susanna Moon
Chicago, Feb. 8 – GS Finance Corp. priced $3.82 million of contingent income autocallable securities due Jan. 31, 2019 linked to Palo Alto Networks, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment at an annualized rate of 11% if the stock closes at or above the 75% downside threshold on a determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above its initial level of the first three coupon determination dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Palo Alto Networks, Inc. (Symbol: PANW)
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| Amount: | $3,820,360
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| Maturity: | Jan. 31, 2019
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| Coupon: | 11% annualized, payable quarterly if shares close at or above downside threshold on determination date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | If stock finishes at or above 75% downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any of the first three coupon determination dates
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| Initial share price: | $159.71
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| Downside threshold: | $119.7825, 75% of initial share price
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.85%
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| Cusip: | 36254F749
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