By Wendy Van Sickle
Columbus, Ohio, April 19 – GS Finance Corp. priced $20 million of autocallable equity-linked securities due April 16, 2026 tied to the shares of Activision Blizzard, Inc., DocuSign, Inc. and Wells Fargo & Co. according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
After one year, the notes will be automatically redeemed at par plus 18.1% annualized if the worst-performing stock closes at or above its initial price on any annual observation date.
If the notes are not called and the final price of each stock is at least 60% of its initial price, the payout at maturity will be par plus 90.5%. Otherwise, investors will be exposed to the loss of the least-performing stock.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Activision Blizzard, Inc., DocuSign, Inc. and Wells Fargo & Co.
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| Amount: | $20 million
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| Maturity: | April 16, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 90.5% if each stock’s final price is at least 60% of initial price; otherwise, full exposure to losses of least-performing stock
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| Call: | After one year, at par plus 18.1% annualized if the worst-performing stock closes at or above its initial price on any annual observation date
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| Initial prices: | $96.14for Activision Blizzard, $213.48 for DocuSign and $40.77 for Wells Fargo
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| Downside thresholds: | 50% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 16
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 0.75%
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| Cusip: | 40057FZL1
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