By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – GS Finance Corp. priced $1.32 million of autocallable contingent coupon notes due June 29, 2026 linked to 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 contingent quarterly coupon of 7% per annum if the ETF closes at or above its 65% coupon trigger level on the determination date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any asset closes below 65% of its initial level, in which case investors will be fully exposed to the decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $1,322,000
|
| Maturity: | June 29, 2026
|
| Contingent coupon: | 7% annualized, payable quarterly if the ETF closes at or above coupon trigger level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF closes below 65% of its initial level, in which case investors will be fully exposed to the decline from its initial level
|
| Call: | Automatically at par plus contingent coupon if the ETF closes at or above initial level on any quarterly call observation date after one year
|
| Initial levels: | $119.51
|
| Coupon trigger level: | 65% of initial level
|
| Trigger level: | 65% of initial level
|
| Pricing date: | June 21
|
| Settlement date: | June 24
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.36%
|
| Cusip: | 40057HLM0
|
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