By Sarah Lizee
Olympia, Wash., Aug. 28 – GS Finance Corp. priced $3.9 million of 0% bearish autocallable absolute return notes due Aug. 31, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If on any day during the life of the notes the index closes at less than 76% of the initial level, the notes will be automatically called at par plus 0.5%.
If the notes are not called and the index closes at or above its initial level, the payout will be par.
If the notes are not called and the index falls by no more than 24%, the payout will be par plus the absolute value of the index return. If the index declines by more than 24%, investors will receive par plus 0.5%.
The underwriter is Goldman Sachs & Co. LLC.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish autocallable absolute return notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,895,000
|
| Maturity: | Aug. 31, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and the index closes at or above its initial level, par; if the notes are not called and the index falls by no more than 24%, par plus the absolute value of the index return; if the index declines by more than 24%, par plus 0.5%
|
| Call: | Automatically at par plus 0.5% if on any day during life of the notes the index closes at less than 76% of initial level
|
| Initial level: | 2,878.38
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.425%
|
| Cusip: | 40056X5G7
|
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