By Wendy Van Sickle
Columbus, Ohio, Jan. 17 – GS Finance Corp. priced $10 million of autocallable contingent coupon ETF-linked notes due Jan. 21, 2025 tied to the SPDR S&P Biotech 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 15.26% if the ETF closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be called at par plus a coupon if the ETF closes at or above its initial ETF level on any monthly call observation date.
If the notes are not called and the ETF finishes at or above the 80% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1.25% for each 1% decline of the ETF beyond 20%.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying ETF: | SPDR S&P Biotech ETF
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| Amount: | $10 million
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| Maturity: | Jan. 21, 2025
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| Coupon: | 15.26% annualized rate, payable monthly if the ETF closes at or above coupon trigger level on valuation date for that period; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If the ETF finishes at or above trigger buffer, par plus final coupon; otherwise, lose 1.25% for every 1% decline beyond 20%
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| Call: | At par plus coupon if the ETF closes at or above its initial level on any monthly call observation date
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| Initial ETF level: | $92.53
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| Coupon trigger level: | 80% of initial level
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| Trigger buffer level: | 80% of initial level
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 17
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 0.1%
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| Cusip: | 40057XVV4
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