By William Gullotti
Buffalo, N.Y., Dec. 11 – GS Finance Corp. priced $1.64 million of autocallable variable coupon equity-linked notes due Dec. 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay an 8% coupon annually if the index closes at or above its coupon barrier, 100% of its initial level, on the related determination date. Otherwise, the coupon will be 4.5%.
The notes will be automatically called at par plus the coupon if the index closes at or above its initial level on any annual valuation date.
If the notes are not called and the index finishes at or above its initial level, the payout at maturity will be par plus 200% of the gain.
Investors will receive par if the index declines by no more than 10% and lose 1% for each 1% that the index declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable variable coupon equity-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,643,000
|
| Maturity: | Dec. 5, 2025
|
| Coupon: | 8%, paid annually, if closing level of the index is greater than or equal to coupon barrier on related observation date, otherwise, coupon will be 4.5%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of index gain; par if index falls by no more than 10%; otherwise, 1% loss for each 1% decline beyond 10%
|
| Call: | At par plus coupon if closing level of index is greater than or equal to its initial level on any monthly valuation date after one year
|
| Initial level: | 4,567.8
|
| Coupon barrier: | 100% of initial level
|
| Buffer level: | 90% of initial level
|
| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 40057WZH3
|
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