By Wendy Van Sickle
Columbus, Ohio, Jan. 24 – GS Finance Corp. priced $8.21 million of autocallable contingent coupon equity-linked notes due Feb. 28, 2023 linked to Apple 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, 78% of the initial price, on the determination date for that month, the notes will pay a contingent monthly coupon at an annual rate of 8.25%.
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 a final coupon unless the stock finishes below 78% 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: | Apple Inc.
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| Amount: | $8.21 million
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| Maturity: | Feb. 28, 2023
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| Coupon: | 8.25% 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 78% 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 a 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: | $166.23
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| Barrier level: | 78% 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: | 40057KQA4
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