By Kiku Steinfeld
Chicago, Dec. 2 – GS Finance Corp. priced $855,000 of autocallable contingent coupon equity-linked securities due Aug. 15, 2024 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the coupon barrier price, 80% of the initial price, on a quarterly valuation date, the notes will pay a contingent quarterly coupon equal to (i) the product of $29.75 times the number of coupon determination dates that have occurred up to and including that coupon determination date minus (ii) the sum of all coupons previously paid, if any. On a per-year basis, the coupon rate is equal to 11.9%
The notes will be automatically called at par if the stock close at or above the initial share price on any quarterly valuation date.
If the notes are not called and the final share price is greater than or equal to the 80% final barrier price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the stock price.
Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement agent
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon equity-linked securities
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Underlying stocks: | Nvidia Corp.
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Amount: | $855,000
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Maturity: | Aug. 15, 2024
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Coupon: | If stock closes at or above coupon barrier price on quarterly valuation date, notes pay contingent quarterly coupon equal to (i) product of $29.75 times number of coupon determination dates that have occurred up to and including that coupon determination date minus (ii) sum of all coupons previously paid, if any (equal to 11.9% per year)
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Price: | Par
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Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par; otherwise, full exposure to decline in the stock
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Call: | Automatically at par if stock closes at or above initial level on any quarterly valuation date
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Initial share price: | $196.99
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Coupon barrier level: | 80% of initial level
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Final barrier level: | 80% of initial level
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Pricing date: | Aug. 11
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Settlement date: | Aug. 16
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Agent: | Goldman Sachs & Co. LLC with JPMorgan as the placement agent
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Fees: | 2%
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Cusip: | 40057J7J9
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