By Wendy Van Sickle
Columbus, Ohio, Jan. 3 – GS Finance Corp. priced $2.46 million of autocallable contingent coupon notes due Dec. 29, 2021 linked to the iShares MSCI Emerging Markets exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.25% if each underlying closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each underlying closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless the return of either underlying is less than negative 30%, in which case investors will be exposed to the decline of the lesser-performing underlying from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $2,455,000
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| Maturity: | Dec. 29, 2021
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| Coupon: | 7.25% per year, payable quarterly if each asset closes at or above 70% coupon barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above initial level or never closes below 70% knock-in level, par; otherwise, full exposure to any losses of worst performing asset
|
| Call: | At par plus contingent coupon if each asset closes at or above initial level on any quarterly valuation date
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| Initial levels: | $46.50 for ETF and 3,553.39 for Stoxx
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| Barrier levels: | $32.55 for ETF and 2,487.373 for Stoxx; 70% of initial levels
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.175%
|
| Cusip: | 40055ABC0
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