Chicago, Oct. 10 – GS Finance Corp. priced $609,000 of callable contingent coupon equity-linked securities due April 10, 2025 linked to the common stock of 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 annualized rate of 17.5% 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 may be called at par at the issuer’s option on any monthly coupon payment date starting after six months.
If the notes are not called and the final share price is greater than or equal to the 50% final barrier price, the payout at maturity will be par plus any final coupon.
Otherwise, investors will be fully exposed to the decline of the stock price.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying stock: | Tesla, Inc.
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| Amount: | $609,000
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| Maturity: | April 10, 2025
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| Coupon: | 17.5% 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 final barrier price, par plus any final coupon; otherwise, full exposure to decline in the stock
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| Call: | At par at issuer’s option on any monthly coupon payment date starting after six months
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| Initial share price: | $261.16
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| Coupon barrier level: | 70% of initial level
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| Final barrier level: | 50% of initial level
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| Pricing date: | Oct. 4
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| Settlement date: | Oct. 10
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.225%
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| Cusip: | 40057WKR7
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