By Sarah Lizee
Olympia, Wash., Oct. 31 – GS Finance Corp. priced $11.25 million of 0% step-down trigger autocallable notes due Oct. 31, 2023 linked to the lesser performing of the MSCI Emerging Markets index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par of $10 plus a call premium of 12.85% per year if each index closes at or above its initial level on any annual observation date.
If the notes are not called and the final level of the worse performing index is greater than or equal to its downside threshold, 70% of its initial level, investors will receive par plus a premium of 64.25%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | MSCI Emerging Markets index and Nasdaq-100 index
|
| Amount: | $11.25 million
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| Maturity: | Oct. 31, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final level of the worse performing index is greater than or equal to its 70% downside threshold, par plus a premium of 64.25%; otherwise, 1% loss for each 1% decline of the lesser-performing index from its initial level
|
| Call: | Automatically at par plus a call premium of 12.85% per year if each index closes at or above its initial level on any annual observation date
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| Initial levels: | 939.55 for EM, 6,852.404 for Nasdaq
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| Downside thresholds: | 657.685 for EM, 4,796.683 | for Nasdaq; 70% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
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| Fees: | 0.35%
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| Cusip: | 36256M494
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