By William Gullotti
Buffalo, N.Y., Sept. 13 – GS Finance Corp. priced $2.22 million of autocallable contingent coupon equity-linked notes due Sept. 11, 2025 linked to the stocks of Apple Inc., Amazon.com, Inc. and Tesla, 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 15.2% if each stock closes at or above its coupon barrier price, 60% of its initial price, on a related determination date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
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 have not been called, the payout at maturity will be par unless any stock closes below its 60% final barrier on any trading day during the life of the notes and any stock finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from its initial level.
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 securities
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Tesla, Inc.
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| Amount: | $2,215,000
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| Maturity: | Sept. 11, 2025
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| Coupon: | 15.2% annual rate, payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its 60% final barrier on any trading day during the life of the notes and any stock finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from its initial level
|
| 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: | $178.18 for Apple, $138.23 for Amazon, $248.50 for Tesla
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| Coupon barrier prices: | 60% of initial levels
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| Final barrier prices: | 60% of initial levels
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 13
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057W6R3
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