By Wendy Van Sickle
Columbus, Ohio, July 14 – GS Finance Corp. priced $11.51 million of 0% trigger autocallable notes due July 13, 2027 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par of $10 plus a call return of 10.15% per year if the ETF closes at or above its initial level on any quarterly call observation date after one year.
The payout will be par plus 50.75% if the ETF finishes positive. The payout will be par if the ETF declines by up to 30%. Otherwise, investors will have full exposure to ETF decline from its initial level.
Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable notes
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| Underlying ETF: | SPDR S&P 500 ETF trust
|
| Amount: | $11,512,000
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| Maturity: | July 13, 2027
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 50.75% if the ETF finishes positive; par if ETF declines by up to 30%; otherwise, full exposure to decline
|
| Call: | At par plus 10.15% per year if ETF closes at or above initial level on any quarterly call observation date after one year
|
| Initial level: | $388.67
|
| Downside threshold: | $272.07; 70% of initial level
|
| Pricing date: | July 8
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| Settlement date: | July 13
|
| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 36264H834
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