By William Gullotti
Buffalo, N.Y., July 29 – GS Finance Corp. priced $2.76 million of 0% autocallable underlier-linked notes due June 8, 2026 linked to the S&P Midcap 400 Value index and the Invesco S&P 500 High Beta ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 7.1% annualized call premium if the lesser-performing underlier closes at or above its initial level on any annual call date.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus the return of the lesser performer. If the lesser-performing underlier falls but finishes at or above its 60% trigger buffer, the payout at maturity will be par. Otherwise, investors will be exposed to the lesser-performing underlier’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable underlier-linked notes
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| Underlying assets: | S&P Midcap 400 Value index, Invesco S&P 500 High Beta ETF
|
| Amount: | $2,762,000
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| Maturity: | June 8, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus a 7.1% annualized call premium if lesser-performing underlier closes at or above initial level on any annual call observation date
|
| Payout at maturity: | If the lesser-performing underlier finishes at or above initial level, par plus the return of the least performing asset; if the lesser-performing underlier declines but finishes at or above trigger level, par; otherwise investors will lose 1% for every 1% the worst performer declines from initial level
|
| Initial levels: | 880.24 for index, $78.16 for fund
|
| Trigger buffer level: | 60% of initial level
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| Pricing date: | June 1
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| Settlement date: | June 5
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4.1%
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| Cusip: | 40057HBH2
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