By Sarah Lizee
Olympia, Wash., Sept. 4 – GS Finance Corp. priced $1.2 million of autocallable contingent coupon equity-linked securities due June 4, 2021 linked to the common stocks of Amazon.com, Inc., Apple Inc. and Microsoft Corp., 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 a yearly rate of 13.55% if each stock closes above the coupon barrier price, 60% of the initial price, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to the trigger price, 60% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price of the least performing stock.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon equity-linked securities
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Underlying stocks: | Amazon.com, Inc., Apple Inc. and Microsoft Corp.
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Amount: | $1.2 million
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Maturity: | June 4, 2021
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Coupon: | 13.55% per year, payable quarterly if closing price of each stock is greater than or equal to 60% of initial share price on any quarterly observation date
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if each stock closes at or above 60% of its initial share price; otherwise, full exposure to decline of least performing stock
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Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly observation date
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Initial share prices: | $3,450.96 for Amazon, $129.04 for Apple, $225.53 for Microsoft
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Coupon barrier/trigger prices: | 60% of initial share prices
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Pricing date: | Sept. 1
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Settlement date: | Sept. 4
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.85%
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Cusip: | 40057CUA7
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