By Susanna Moon
Chicago, Jan. 5 – GS Finance Corp. priced $3.19 million of contingent income autocallable securities due Jan. 3, 2020 linked to Apple Inc. shares, 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 quarterly coupon at an annualized rate of 8% if Apple shares close at or above the downside threshold level, 80% of the initial share price, on a determination date for that quarter.
The notes will be called at par plus the contingent coupon if Apple shares close at or above the initial share price on any of the first 11 determination dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
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| Amount: | $3,192,660
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| Maturity: | Jan. 3, 2020
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| Coupon: | 8% per year, payable quarterly if Apple shares close at or above downside threshold on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes below downside threshold, par; otherwise, full exposure to any losses
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| Call: | At par plus contingent coupon if Apple shares close at or above initial share price on any of the first 11 determination dates
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| Initial level: | $116.73
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| Downside threshold: | $93.384, 80% of initial level
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 4
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| Underwriter: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.675%
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| Cusip: | 36251U558
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