By William Gullotti
Buffalo, N.Y., June 24 – GS Finance Corp. priced $1.05 million of autocallable contingent coupon index-linked notes due June 23, 2026 tied to the Nasdaq-100 index, 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 annual rate of 11.4% if the index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if the index closes at or above its initial index level on any quarterly call observation date after six months.
If the notes are not called and the index finishes at or above the coupon trigger, the payout at maturity will be par plus the final coupon.
If the index finishes below the coupon trigger but at or above the 65% trigger buffer level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying index: | Nasdaq-100 index
|
| Amount: | $1,045,000
|
| Maturity: | June 23, 2026
|
| Coupon: | 11.4% annualized rate, payable quarterly if the index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above coupon trigger, par plus final coupon; if the index finishes below coupon trigger but at or above trigger buffer level, par; otherwise, full exposure to decline from initial level
|
| Call: | At par plus coupon if the index closes at or above its initial level on any quarterly call observation date after six months
|
| Initial index level: | 11,265.99
|
| Coupon trigger level: | 75% of initial level
|
| Trigger buffer level: | 65% of initial level
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| Pricing date: | June 17
|
| Settlement date: | June 23
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40057MEH8
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