By William Gullotti
Buffalo, N.Y., Aug. 2 – GS Finance Corp. priced $2.83 million of autocallable contingent coupon index-linked notes due Aug. 3, 2026 tied to the Russell 2000 index and the Euro Stoxx 50 index, 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 annual rate of 6% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date.
If the notes are not called and each index closes at or above the coupon barrier, the payout at par plus coupon.
If each index closes at or above the 75% trigger buffer level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the decline of the least-performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index
|
| Amount: | $2,828,000
|
| Maturity: | Aug. 3, 2026
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| Coupon: | 6% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par plus final coupon; if any index falls by more than 25%, full exposure to decline of the worst performer from its initial level
|
| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date
|
| Initial index levels: | 2,191.833 for Russell, 4,064.83 for Stoxx
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| Trigger buffer level: | 75% of initial levels
|
| Coupon trigger level: | 75% of initial levels
|
| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 40057HVU1
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