By Wendy Van Sickle
Columbus, Ohio, Nov. 11 – GS Finance Corp. priced $1.03 million of autocallable contingent coupon equity-linked securities due Nov. 18, 2024 linked to the common stock of JPMorgan Chase & 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 monthly coupon at an annualized rate of 11.15% if the stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par if the stock closes at or above the initial share price on any monthly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 70% barrier level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% drop of the stock.
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: | JPMorgan Chase & Co.
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Amount: | $1,032,000
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Maturity: | Nov. 18, 2024
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Coupon: | 11.15% annually, payable monthly, if stock closes at or above coupon barrier price on valuation date for that period
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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 barrier level, par; otherwise, 1% loss for every 1% drop of the stock
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Call: | Automatically at par if stock closes at or above initial level on any monthly valuation date after six months
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Initial share price: | $131.45
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Coupon barrier level: | 70% of initial level
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Barrier level: | 70% of initial level
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Pricing date: | Nov. 8
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Settlement date: | Nov. 14
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Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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Fees: | 2.95%
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Cusip: | 40057NWQ6
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