By Wendy Van Sickle
Columbus, Ohio, Jan. 24 – GS Finance Corp. priced $8.1 million of autocallable contingent coupon equity-linked notes due Feb. 28, 2023 linked to Netflix, Inc. common stock, 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 barrier level, 75% of the initial price, on the determination date for that month, the notes will pay a contingent monthly coupon at an annual rate of 10.75%.
The notes will be called at par plus a coupon if the stock closes at or above the initial stock price on any determination date after six months.
The payout at maturity will be par plus the final coupon unless the stock finishes below 75% of its initial price, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the underwriter.
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: | Netflix, Inc.
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Amount: | $8,097,000
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Maturity: | Feb. 28, 2023
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Coupon: | 10.75% per year, payable monthly if stock closes at or above barrier level on determination date for that month
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Price: | Par
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Payout at maturity: | If stock finishes at or above 75% of its initial level, par plus final coupon; otherwise 1% loss for each 1% decline of stock
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Call: | At par plus any unpaid coupon if stock closes at or above initial stock price on any monthly determination date after six months
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Initial stock price: | $515.86
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Barrier level: | 75% of initial stock price
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Pricing date: | Jan. 19
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Settlement date: | Jan. 24
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.15%
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Cusip: | 40057KQB2
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