By William Gullotti
Buffalo, N.Y., Aug. 18 – GS Finance Corp. priced $1.98 million of callable contingent coupon equity-linked notes due April 19, 2023 linked to the shares of General Motors Co., 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 if the stock closes at or above the coupon barrier price, 60% of the initial price, on the valuation date for that period. The coupon will be equal to $33.375 per note for the first two dates and $22.25 for the final.
The notes are callable at par plus any contingent coupon otherwise due on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares finish below the 60% barrier level, in which case investors will be fully exposed to decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | General Motors Co.
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| Amount: | $1,979,000
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| Maturity: | April 19, 2023
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| Coupon: | Payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period; the coupon will be equal to $33.375 per note for the first two coupons and $22.25 for the final
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case investors will be fully exposed to decline
|
| Call: | At par plus any coupon due on any quarterly call valuation date
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| Initial share price: | $39.48
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| Coupon barrier price: | 60% of initial share price
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| Barrier level: | 60% of initial share price
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| Pricing date: | Aug. 12
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| Settlement date: | Aug. 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 40057MUQ0
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