By Kiku Steinfeld
Chicago, June 16 – GS Finance Corp. priced $480,000 of autocallable contingent coupon equity-linked notes due June 21, 2021 linked to Qualcomm Inc. 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, 74.5% of the initial price, on the determination date for a quarter, the notes will pay a contingent quarterly coupon at an annual rate of 16% for that quarter and any previously paid coupons.
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.
If the stock return is greater than or equal to negative 25.5%, the payout at maturity will be par plus the final coupon and any previously paid coupons.
Otherwise, investors will be exposed to the decline of the stock.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Qualcomm Inc.
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| Amount: | $480,000
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| Maturity: | June 21, 2021
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| Coupon: | 16% per year, payable quarterly and any previously paid coupons if shares close at or above trigger level on a related determination date
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| Price: | Par
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| Payout at maturity: | If the stock return is greater than or equal to negative 25.5%, par plus final coupon and any previously paid coupons; otherwise, investors will be exposed to the decline of the stock
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
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| Initial share price: | $84.11
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| Trigger level: | 74.5% of initial share price
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| Pricing date: | June 4
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| Settlement date: | June 9
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1.1%
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| Cusip: | 40057CAF8
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