By William Gullotti
Buffalo, N.Y., Jan. 4 – GS Finance Corp. priced $2.08 million of autocallable contingent coupon ETF-linked notes due Nov. 24, 2025 tied to the ARK Innovation ETF, 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 annual rate of 24% if the ETF closes at or above the coupon trigger level, 60% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if the ETF closes at or above its initial level on any monthly call observation date after three months.
If the notes are not called and the ETF finishes at or above coupon trigger level, the payout will be par plus coupon.
If the ETF finishes below its coupon trigger but at or above its 50% trigger buffer level, the payout will be par. Otherwise, investors will be fully exposed to the ETF’s decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $2,075,000
|
| Maturity: | Nov. 24, 2025
|
| Coupon: | 24% annualized rate, payable monthly if the ETF closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes at or above coupon trigger level, par plus coupon; if ETF finishes below coupon trigger but not below trigger buffer, par; otherwise, full exposure to loss
|
| Call: | At par plus coupon if the ETF closes at or above its initial level on any monthly call observation date after three months
|
| Initial ETF level: | $38.91
|
| Trigger buffer level: | 50% of initial levels
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| Coupon trigger level: | 60% of initial levels
|
| Pricing date: | Nov. 14
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| Settlement date: | Nov. 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 40057NY35
|
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