By Taylor Fox
New York, Nov. 19 – GS Finance Corp. priced $1.43 million of autocallable contingent coupon notes due Nov. 7, 2022 linked to the lowest performing of Alphabet Inc., Nvidia Corp. and Alibaba Group Holding Ltd., 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 if each stock closes at or above its 50% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 11.6%.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus any coupon due unless any stock finishes below 50% of its initial level, in which case investors will be exposed to the decline of the least performing stock from its initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying stocks: | Alphabet Inc., Nvidia Corp. and Alibaba Group Holding Ltd.
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Amount: | $1,425,000
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Maturity: | Nov. 7, 2022
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Contingent coupon: | 11.6% annual rate, payable quarterly if each stock closes at or above coupon trigger level on the determination date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon due unless any stock finishes below barrier level, in which case investors will be exposed to the decline of the least performing stock from its initial level
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Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly call observation date
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Initial levels: | $1,621.01 for Alphabet, $501.36 for Nvidia and $304.69 for Alibaba
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Coupon trigger levels: | 50% of initial levels
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Barrier levels: | 50% of initial levels
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Pricing date: | Oct. 30
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Settlement date: | Nov. 6
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.925%
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Cusip: | 40057ELA3
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