By William Gullotti
Buffalo, N.Y., Aug. 12 – GS Finance Corp. priced $1.39 million of autocallable contingent coupon index-linked notes due Aug. 8, 2025 tied to the S&P 500 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 10.35% if the index closes at or above the coupon trigger level, 80% of the initial level, on every trading day during the observation period.
The notes will be called at par plus any coupon otherwise payable 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 80% trigger buffer level, the payout at maturity will be par plus any final coupon otherwise due.
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.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,394,000
|
| Maturity: | Aug. 8, 2025
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| Coupon: | 10.35% annualized rate, payable quarterly if the index closes at or above coupon trigger on every trading day during the observation 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 any coupon otherwise due if the index closes at or above its initial level on any quarterly call observation date after six months
|
| Initial index level: | 4,145.19
|
| Coupon trigger level: | 80% of initial levels
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| Trigger buffer level: | 80% of initial levels
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 10
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 40057MSX8
|
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