By Susanna Moon
Chicago, June 25 – GS Finance Corp. priced $500,000 of autocallable contingent coupon notes due June 22, 2020 linked to the lesser performing of the SPDR S&P Oil & Gas Exploration & Production ETF and Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if each underlying fund closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either fund ever closes below its 60% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing fund.
The guarantor is Goldman Sachs Group, Inc.
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: | Autocallable contingent coupon notes
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| Underlying funds: | SPDR S&P Oil & Gas Exploration & Production ETF and Invesco QQQ Trust, series 1
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| Amount: | $500,000
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| Maturity: | June 22, 2020
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| Coupon: | 9.25% annualized, payable quarterly if each fund closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each fund never closes below 60% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing fund
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| Call: | At par if each fund closes at or above its initial level on any quarterly call review date from December 2018 through March 2020
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| Initial levels: | $40.42 for oil fund, $176.98 for trust
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| Trigger levels: | $26.273 for oil fund, $115.037 for trust, 65% of initial levels
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| Pricing date: | June 15
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| Settlement date: | June 20
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.175%
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| Cusip: | 40055QFA5
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