By Taylor Fox
New York, Nov. 30 – GS Finance Corp. priced $2.3 million of 0% jump securities with autocallable feature due Nov. 24, 2023 linked to the worst performing of the common stocks of Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par of $10 plus an annual premium of 14% if each stock closes at or above its initial level on any quarterly observation date starting after one year.
At maturity, if the notes have not been called and each stock finishes above 70% of its initial level, the payout will be par plus the 42% maturity date premium.
If the worst performing stock finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that stock.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Jump securities with autocallable feature
|
| Underlying stocks: | Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc.
|
| Amount: | $2,300,000
|
| Maturity: | Nov. 24, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus an annual premium of 14% if each stock closes at or above its initial level on any quarterly observation date starting after one year
|
| Payout at maturity: | Par of $10 plus 42% maturity date premium if all stocks close above 70% trigger level, otherwise, investors will be fully exposed to worst performing stock’s decline
|
| Initial levels: | $26.98 for Bank of America, $115.25 for JPMorgan and $51.05 for Citigroup
|
| Trigger level: | $18.886 for Bank of America, $80.675 for JPMorgan and $35.735 for Citigroup; 70% of initial levels
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 23
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 36259Q500
|
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