By Marisa Wong
Los Angeles, Aug. 6 – GS Finance Corp. priced $1.45 million of autocallable contingent coupon stock-linked notes due Oct. 26, 2020 linked to Boeing Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at a rate of 8.4% per annum if the stock closes at or above its 75% coupon trigger level on a related quarterly determination date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date beginning in January 2020.
The payout at maturity will be par plus the final coupon unless the stock falls by more than 25%, in which case investors will lose 1% for every 1% decline of the stock.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon stock-linked notes
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Underlying stock: | Boeing Co. (Symbol: BA)
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Amount: | $1,447,000
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Maturity: | Oct. 26, 2020
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Coupon: | 8.4% per year, payable each quarter that stock closes at or above its coupon trigger on the determination date for that quarter
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Price: | Par
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Payout at maturity: | Par plus final coupon unless stock falls by more than 25%, in which case full exposure to share price decline
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Call: | At par plus the contingent coupon if stock closes at or above its initial level on any quarterly determination date beginning in January 2020
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Initial stock price: | $377.36
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Coupon trigger: | 75% of initial price
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Pricing date: | July 19
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Settlement date: | July 24
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Underwriter: | Goldman Sachs & Co.
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Fees: | 2.35%
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Cusip: | 40056FUD5
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