By Sarah Lizee
Olympia, Wash., July 22 – GS Finance Corp. priced $580,000 of 0% autocallable ETF-linked notes due Jan. 20, 2023 tied to the VanEck Vectors Gold Miners ETF and the SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus 16.75% per year if each ETF closes at or above its initial level on any quarterly call date, starting July 26, 2021.
If each ETF finishes at or above its initial level, the payout will be $1,418.75 per $1,000 of notes.
If either ETF falls by up to 10%, the payout will be par.
If either ETF falls by more than 10%, investors will be exposed to the lesser performing ETF’s decline beyond 10%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable ETF-linked notes
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and SPDR Gold Trust
|
| Amount: | $580,000
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| Maturity: | Jan. 20, 2023
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above its initial level, $1,418.75 per $1,000 of notes; if either ETF falls by up to 10%, par; if either ETF falls by more than 10%, investors will be exposed to the lesser performing ETF’s decline beyond 10%
|
| Call: | At par plus 16.75% per year if each ETF closes at or above its initial level on any quarterly call date, starting July 26, 2021
|
| Initial levels: | $39.31 for VanEck, $170.12 for SPDR
|
| Buffer levels: | 90% of initial levels
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| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.425%
|
| Cusip: | 40057CG47
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