By Sarah Lizee
Olympia, Wash., Aug. 31 – GS Finance Corp. priced $20 million of 0% step-down trigger autocallable notes due Aug. 31, 2023 linked to the least performing of Alibaba Group Holding Ltd., Baidu, Inc. and JD.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a call return of 18.8% per year if each stock closes at or above its initial price on any annual call valuation date.
If the notes are not called and each stock finishes at or above 60% of its initial level, the payout will be $15.64 per $10 note.
If any stock finishes below 60% of its initial level, the payout will be par plus the return of the lesser performing stock with full exposure to the decline.
Goldman Sachs & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step-down trigger autocallable notes
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| Underlying stocks: | Alibaba Group Holding Ltd., Baidu, Inc. and JD.com, Inc.
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| Amount: | $20 million
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| Maturity: | Aug. 31, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus a call return of 18.8% per year if each stock closes at or above its initial price on any annual call valuation date
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| Payout at maturity: | If the notes are not called and each stock finishes at or above 60% of its initial level, $15.64 per $10 note; if any stock finishes below 60% of its initial level, par plus the return of the lesser performing stock with full exposure to the decline
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| Initial prices: | $171.60 for Alibaba, $75.42 for Baidu, $47.38 for JD
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| Downside thresholds: | 60% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | Goldman Sachs & Co. LLC and UBS Financial Services Inc.
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| Fees: | 1.25%
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| Cusip: | 36259L451
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