By Kiku Steinfeld
Chicago, March 30 – GS Finance Corp. priced $1 million of autocallable contingent coupon equity-linked securities due Oct. 7, 2022 linked to the common stock of Microsoft 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 determination date, investors will receive for each $1,000 principal amount of notes a coupon payment equal to (i) the product of $30.375 times the number of coupon determination dates that have occurred up to and including the relevant determination date minus (ii) the sum of all coupons previously paid, if any. The rate is equivalent to 12.15% per year.
The notes will be automatically called at par if the stock close at or above the initial share price on any quarterly valuation date starting Jan. 3, 2022.
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 with JPMorgan acting as 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 stock: | Microsoft Corp.
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| Amount: | $1 million
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| Maturity: | Oct. 7, 2022
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| Coupon: | If stock closes at or above coupon barrier price on quarterly determination date, product of $30.375 times number of coupon determination dates that have occurred up to and including relevant determination date minus (ii) sum of all coupons previously paid, if any; rate is equivalent to 12.15% 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 starting Jan. 3, 2022
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| Initial share price: | $294.30
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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: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1%
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| Cusip: | 40057JML7
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