By William Gullotti
Buffalo, N.Y., Aug. 16 – GS Finance Corp. priced $1.88 million of autocallable contingent coupon equity-linked notes due Aug. 4, 2028 linked to the stocks of Advanced Micro Devices, Inc., Amazon.com, Inc., Enphase Energy, Inc. and Paycom Software, Inc., 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 17.5% if each stock closes above its coupon barrier price, 60% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the 60% final buffer, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% that the worst performer declines beyond 40%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Advanced Micro Devices, Inc., Amazon.com, Inc., Enphase Energy, Inc., Paycom Software, Inc.
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| Amount: | $1,882,000
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| Maturity: | Aug. 4, 2028
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| Coupon: | 17.5% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above 60% of its initial share price; otherwise, lose 1% for each 1% that the worst performer declines beyond 40%
|
| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after six months
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| Initial share prices: | $112.96 for AMD, $132.21 for Amazon, $154.33 for Enphase, $368.46 for Paycom
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| Coupon barrier prices: | 60% of initial prices
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| Final buffer prices: | 60% of initial prices
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4%
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| Cusip: | 40057TLU6
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