By William Gullotti
Buffalo, N.Y., July 19 – GS Finance Corp. priced $740,000 of 0% autocallable contingent coupon underlier-linked notes due Dec. 5, 2022 linked to the least performing of the S&P 500 index and the ARK Innovation ETF, 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 quarterly contingent coupon of 8% annually if each underlier is at or above the coupon trigger level on the corresponding observation date.
The notes will automatically be called at par plus coupon if each underlier closes at or above initial levels on any quarterly observation date.
At maturity, if each underlier finishes at or above the 60% trigger level, the payout will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
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| Underlying assets: | S&P 500 index, ARK Innovation ETF
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| Amount: | $740,000
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| Maturity: | Dec. 5, 2022
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| Coupon: | Payable quarterly at an annual rate of 8% if each underlier is at or above the coupon trigger level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus coupon if each underlier finishes above trigger level; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly observation date
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| Initial levels: | 4,200.88 for S&P, $112.28 for ETF
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| Trigger levels: | 60% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.73%
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| Cusip: | 40057HFH8
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