By Wendy Van Sickle
Columbus, Ohio, Nov. 19 – GS Finance Corp. priced $1.23 million of callable contingent equity-linked coupon notes due Nov. 18, 2021 linked to the common stock of Morgan Stanley, 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 an annual rate of 8.8% if the shares close at or above 65% of the initial level on the coupon payment date for that quarter.
The notes are callable in whole but not in part at par plus any contingent coupon on any coupon payment date.
The payout at maturity will be par plus the final coupon, if any, unless the shares finish below 60% of the initial price, in which case investors will lose 1% for each 1% decline of the stock from the initial price.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying shares: | Morgan Stanley
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| Amount: | $1,225,000
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| Maturity: | Nov. 18, 2021
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| Coupon: | 8.8% per year, payable each quarter that shares’ closing level is greater than or equal to coupon barrier on observation date for that period
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| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless shares finish below 60% trigger level, in which case investors will be fully exposed to the decline
|
| Call option: | At par plus any coupon due on any coupon payment date
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| Initial price: | $48.61
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| Coupon trigger price: | $31.5965, 65% of initial price
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| Trigger price: | $29.166, 60% of initial price
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 19
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.15%
|
| Cusip: | 40056XQE9
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