By William Gullotti
Buffalo, N.Y., Oct. 1 – GS Finance Corp. priced $1.95 million of autocallable contingent coupon equity-linked securities due July 19, 2023 linked to the American depositary shares of Alibaba Group Holding Ltd., 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 annualized rate of 10.75% if the stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period. Previously unpaid coupons, if any, will be included whenever contingent payments are made.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any quarterly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 70% final barrier price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the stock price.
Goldman Sachs & Co. LLC is the agent with JPMorgan serving as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Alibaba Group Holding Ltd.
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| Amount: | $1,950,000
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| Maturity: | July 19, 2023
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| Coupon: | 10.75% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, full exposure to decline in the stock
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly valuation date after six months
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| Initial share price: | $205.94
|
| Coupon barrier level: | 70% of initial level
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| Final barrier level: | 70% of initial level
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| Strike date: | July 9
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| Pricing date: | July 15
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| Settlement date: | July 19
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan serving as placement agent
|
| Fees: | 1%
|
| Cusip: | 40057HWN6
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