By Kiku Steinfeld
Chicago, Nov. 22 – GS Finance Corp. priced $1 million of autocallable contingent coupon equity-linked notes due Nov. 9, 2022 linked to the shares of Snap Inc., 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 10% per annum if the stock closes at or above its 66% coupon trigger level on the related determination date, plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 66% buffer level, in which case investors will lose 1.5152% for every 1% decline of the stock beyond 34%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Snap Inc.
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| Amount: | $1 million
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| Maturity: | Nov. 9, 2022
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| Coupon: | 10% per year, payable each quarter that stock closes at or above its coupon trigger level on related determination date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below buffer level, in which case 1.5152% loss for every 1% decline beyond 34%
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| Call: | At par plus contingent coupon if stock closes at or above its initial level on any quarterly determination date
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| Initial level: | $52.26
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| Coupon trigger: | 66% of initial level
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| Buffer level: | 66% of initial level
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 15
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.95%
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| Cusip: | 40057K4B6
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