By Kiku Steinfeld
Chicago, Nov. 10 – GS Finance Corp. priced $120,000 of autocallable contingent coupon equity-linked securities due March 29, 2023 linked to the common stock of Nvidia Corp., 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 annualized rate of 16.35% if the stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period, minus the sum of any coupons previously paid.
The notes will be automatically called at par if the stock closes at or above the initial share price on any quarterly valuation date.
If the notes are not called and the final share price is greater than or equal to the 70% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1.4286% for every 1% drop of the stock beyond 30%.
Goldman Sachs & Co. LLC is the agent with JPMorgan as the placement agent.
| 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 stock: | Nvidia Corp.
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| Amount: | $120,000
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| Maturity: | March 29, 2023
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| Coupon: | 16.35% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period, minus the sum of any coupons previously paid
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| Price: | Par
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| Payout at maturity: | If notes are not called and final share price is greater than or equal to buffer level, par; otherwise, 1.4286% loss for every 1% drop of the stock beyond buffer
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| Call: | Automatically at par if stock closes at or above initial level on any quarterly valuation date
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| Initial share price: | $221
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| Coupon barrier level: | 70% of initial level
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| Buffer level: | 70% of initial level
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1%
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| Cusip: | 40057LGY1
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