New Issue: GS Finance prices $10 million autocallable notes on Home Depot, Morgan Stanley, Alphabet

By Wendy Van Sickle

Columbus, Ohio, July 26 – GS Finance Corp. priced $10 million of 0% autocallable equity-linked notes due July 21, 2021 tied to the shares of Home Depot, Inc., Morgan Stanley and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will be called at par plus an 11.31% annualized premium if each stock closes at or above its initial level on any annual call observation date.

If the notes are not called, the payout at maturity will be par plus 33.93% if each stock finishes positive or falls by up to 40%.

If any stock falls by more than 30%, investors will be exposed to any losses of the least-performing stock.

Goldman Sachs & Co. is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Autocallable equity-linked notes
Underlying stocks:	Home Depot, Inc., Morgan Stanley and Alphabet Inc.
Amount:	$10 million
Maturity:	July 21, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each stock finishes at or above initial level or falls by up to 40%, par plus 33.93%; if any stock falls by more than 40%, par plus return of least-performing stock, with full exposure to losses
Call:	At par plus 11.31% annualized if each stock closes at or above its initial level on any annual call observation date
Initial levels:	$198.69 for Home Depot, $48.08 for Morgan Stanley, $1,204.42 for Alphabet
Pricing date:	July 18
Settlement date:	July 23
Agent:	Goldman Sachs & Co.
Fees:	1.175%
Cusip:	40055QN40

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