By Wendy Van Sickle
Columbus, Ohio, April 26 – GS Finance Corp. priced $11 million of autocallable contingent coupon equity-linked securities due May 9, 2023 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 11% if the stock closes at or above the coupon barrier price, 60.1% of the initial price, on the valuation date for that period, plus any previously unpaid coupon.
The notes will be automatically called at par plus the contingent coupon 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 60.1% buffer price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1.6639% for each 1% loss beyond 39.9%.
Goldman Sachs & Co. LLC is the agent with JPMorgan as 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: | Nvidia Corp.
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| Amount: | $11 million
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| Maturity: | May 9, 2023
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| Coupon: | 11% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period, plus any previously unpaid coupon
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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 buffer price, par plus final coupon; otherwise, 1.6639% loss for each 1% loss beyond 39.9%
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly valuation date
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| Initial share price: | $214.82
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| Coupon barrier level: | 60.1% of initial level
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| Buffer level: | 60.1% of initial level
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Agent: | Goldman Sachs & Co. LLC
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| Placement agent: | JPMorgan
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| Fees: | 1%
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| Cusip: | 40057LTQ4
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