By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – GS Finance Corp. priced $1.43 million of autocallable contingent coupon equity-linked notes due Oct. 31, 2024 linked to the common stock of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annual rate of 12% if the stock closes at or above 55% of its initial level on the related observation date.
The notes will be called at par on any monthly coupon payment date starting after six months if the stock closes at or above its initial level.
The payout at maturity will be par if the stock finishes at or above 55% of its initial level. Otherwise, investors will receive par plus the return.
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 notes
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| Underlying stock: | Intel Corp.
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| Amount: | $1,432,000
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| Maturity: | Oct. 31, 2024
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| Coupon: | 12% per year, payable each month that stock closes at or above coupon trigger level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par if the stock finishes at or above 55% of its initial level; otherwise, investors will lose 1% for each 1% decline in the stock
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| Call: | Automatically at par if the stock closes at or above its initial level on any monthly coupon payment date starting after six months
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| Initial stock level: | $27.18
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| Coupon trigger level: | 55% of initial level
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| Trigger buffer level: | 55% of initial level
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 27
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.95%
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| Cusip: | 40057NLR6
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