By Sarah Lizee
Olympia, Wash., Sept. 18 – GS Finance Corp. priced $58,000 of autocallable continent coupon underlier-linked notes due Sept. 22, 2022 linked to the VanEck Vectors Gold Miners ETF and S&P 500 index, 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 an annualized rate of 7% if each asset closes at or above its coupon trigger, 80% of its initial level, on any quarterly observation date.
The notes will be called if each underlier closes at or above 90% of its initial level on any observation date after six months.
If the notes are not called and each underlier closes at or above its buffer level, 80% of its initial level, the payout at maturity will be par.
If either underlier falls by more than 20%, investors will lose 1% for every 1% decline of the lesser performing underlier beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon underlier-linked notes
|
| Underlying assets: | VanEck Vectors Gold Miners ETF and S&P 500 index
|
| Amount: | $58,000
|
| Maturity: | Sept. 22, 2022
|
| Coupon: | 7%, payable quarterly if each underlier closes at or above its coupon trigger on observation date
|
| Price: | Par
|
| Call: | At par plus coupon if each underlier closes at or above 90% of initial level on any observation date after six months
|
| Payout at maturity: | Par if each underlier closes at or above its buffer level; otherwise, exposure to losses of lesser-performing underlier beyond buffer
|
| Initial levels: | $42.79 for ETF and 3,401.2 for index
|
| Coupon trigger/buffer levels: | 80% of initial levels
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 18
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.805%
|
| Cusip: | 40057CUE9
|
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