By William Gullotti
Buffalo, N.Y., Aug. 11 – GS Finance Corp. priced $1.5 million of autocallable contingent coupon equity-linked notes due Aug. 8, 2025 linked to the stocks of Apple Inc., Amazon.com, Inc. and Tesla, Inc., 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 23% if each stock closes above its coupon barrier price, 60% 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 quarterly valuation date.
If the notes have not been called, the payout at maturity will be par unless any stock closes below its 60% barrier price during the life of the notes and any stock finishes below its initial share price, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial share price.
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: | Apple Inc., Amazon.com, Inc., Tesla, Inc.
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| Amount: | $1.5 million
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| Maturity: | Aug. 8, 2025
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| Coupon: | 23% 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 unless any stock closes below its barrier price during the life of the notes and any stock finishes below its initial share price, in which case investors will lose 1% for every 1% that the worst performer finishes below its 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 quarterly valuation date
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| Initial share prices: | $165.35 for Apple, $140.80 for Amazon, $864.51 for Tesla
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| Coupon barrier prices: | 60% of initial share prices
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| Final barrier prices: | 60% of initial share prices
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| Pricing date: | Aug. 5
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| Settlement date: | Aug. 10
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 40057MQC6
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