Chicago, April 14 – GS Finance Corp. priced $2.39 million of contingent income autocallable securities due April 6, 2023 linked to the class B common stock of Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The guarantor is Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% if the stock closes at or above the 75% downside threshold on the determination date for that quarter.
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 after six months.
The payout at maturity will be par of $10 plus any coupon unless the stock finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% share price decline.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Contingent income autocallable securities
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Underlying stock: | Berkshire Hathaway Inc.
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Amount: | $2,391,830
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Maturity: | April 6, 2023
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Coupon: | 10.5% annualized, payable each quarter that stock closes at or above downside threshold level on determination date for that quarter
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Price: | Par of $10
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Payout at maturity: | If stock finishes at or above downside threshold, par plus any coupon; otherwise, full exposure to share price decline
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Call: | At par plus contingent coupon if stock closes at or above initial price on any determination date after six months
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Initial share price: | $178.34
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Downside threshold: | $133.755, 75% of initial price
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Pricing date: | April 3
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Settlement date: | April 8
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Agent: | Goldman Sachs & Co.
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Fees: | 2.675%
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Cusip: | 36259H799
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