By Taylor Fox
New York, Feb. 22 – GS Finance Corp. priced $500,000 of autocallable contingent coupon equity-linked notes due Feb. 5, 2024 linked to General Motors Co. common stock, 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 10.7%, if the stock closes at or above its trigger price, 50% of the initial price, on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date after six months.
The payout at maturity will be par unless the stock finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline.
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 equity-linked notes
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| Underlying stock: | General Motors Co.
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| Amount: | $500,000
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| Maturity: | Feb. 5, 2024
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| Coupon: | 10.7% per year, payable quarterly, if shares close at or above trigger level on a related determination date
|
| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date after six months
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| Initial share price: | $50.68
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| Trigger price: | 50% of initial share price
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 5
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.75%
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| Cusip: | 40057FD50
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