By William Gullotti
Buffalo, N.Y., May 12 – GS Finance Corp. priced $1.25 million of autocallable contingent coupon equity-linked notes due Nov. 13, 2023 linked to the stocks of Advanced Micro Devices, Inc. and 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 monthly coupon at an annual rate of 40.25% if each stock closes above its coupon barrier price, 70% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date after three months.
If the notes are not called and the final share price of each stock is greater than or equal to the 80% final barrier, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock from its initial level.
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 securities
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Underlying stocks: | Advanced Micro Devices, Inc., Nvidia Corp.
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Amount: | $1.25 million
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Maturity: | Nov. 13, 2023
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Coupon: | 40.25% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon if each stock closes at or above 80% of its initial share price; otherwise, full exposure to decline of least performing stock from initial share price
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Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after three months
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Initial share prices: | $93.87 for AMD, $188.44 for Nvidia
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Coupon barrier prices: | 70% of initial levels
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Final barrier prices: | 80% of initial levels
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Strike date: | May 5
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Pricing date: | May 9
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Settlement date: | May 12
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.4%
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Cusip: | 40057LYT2
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