By Wendy Van Sickle
Columbus, Ohio, July 10 – GS Finance Corp. priced $3 million of 0% trigger autocallable notes due July 8, 2027 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Beginning in July 2020, the notes will be automatically called at par of $10 plus a call return of 16% a year if the index closes at or above its initial level on any annual call observation date.
The payout will be par plus 128% if the index finishes positive. Par if the index declines by up to 25%. Otherwise, investors will have full exposure to the decline.
Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable notes
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| Underlying index: | Euro Stoxx 50
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| Amount: | $3 million
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| Maturity: | July 8, 2027
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | Beginning in July 2020, at par plus 16% per year if index closes at or above initial level on any annual call observation date
|
| Payout at maturity: | Par plus 128% if the index finishes positive; par if index declines by up to 25%; otherwise, full exposure to decline
|
| Initial levels: | 3,540.63
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| Downside threshold: | 2,655.47, 75% of initial level
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| Pricing date: | July 3
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| Settlement date: | July 9
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| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
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| Fees: | 1.15%
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| Cusip: | 36257W269
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