By Wendy Van Sickle
Columbus, Ohio, Oct. 8 – GS Finance Corp. priced $1.56 million of autocallable contingent coupon equity-linked notes due Sept. 30, 2021 linked to Alibaba Group Holding Ltd. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the coupon trigger level, 70% of the initial price, on the determination date for a quarter, the notes will pay a contingent quarterly coupon at an annual rate of 10.7%.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Alibaba Group Holding Ltd. (Symbol: BABA UN)
|
| Amount: | $1,556,000
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| Maturity: | Sept. 30, 2021
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| Coupon: | 10.7% per year, payable quarterly if shares close at or above trigger level on a related determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date beginning
|
| Initial share price: | $175.00
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| Trigger level: | $122.50, 70% of initial share price
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| Pricing date: | Sept. 26
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| Settlement date: | Oct. 1
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.9%
|
| Cusip: | 40056XE36
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