By Wendy Van Sickle
Columbus, Ohio, Nov. 8 – GS Finance Corp. priced $1.09 million of autocallable contingent coupon notes due Nov. 20, 2019 linked to the common stock of Alphabet, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 74.2% coupon barrier on the observation date for that quarter, in which case a coupon will also be paid for any previous quarter during which no coupon was paid.
The notes will be called at par if the stock closes at or above its initial level on any review date.
The payout at maturity will be par plus any coupon owed unless the stock finishes below its 74.2% trigger level, in which case investors will be fully exposed to any losses.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stock: | Alphabet, Inc.
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| Amount: | $1,085,000
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| Maturity: | Nov. 20, 2019
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| Coupon: | 10% annualized, payable quarterly if the stock closes at or above 74.2% coupon barrier on review date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon owed unless the stock finishes below its 74.2% trigger level; otherwise, 1% loss for each 1% decline
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| Call: | At par if each the stock closes at or above its initial level on any quarterly call review date
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| Initial level: | $1,057.79
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| Pricing date: | Nov. 2
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| Settlement date: | Nov. 7
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1.1%
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| Cusip: | 40056EDB1
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