New Issue: Goldman prices $8.1 million step down trigger autocalls on Stoxx, S&P

By Susanna Moon

Chicago, Aug. 3 – GS Finance Corp. priced $8.1 million of 0% step down trigger autocallable notes due July 31, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus an annual call premium of 9.7% if each index closes at or above its initial level on any call observation date after one year.

If each index finishes at or above 70% downside threshold, the payout at maturity will be $14.85 for each $10.00 principal amount.

Otherwise, investors will be fully exposed to any losses of the worse performing index.

The guarantor is Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. selling agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Step down trigger autocallable notes
Underlying indexes:	Euro Stoxx 50 and S&P 500
Amount:	$8,097,850
Maturity:	July 31, 2023
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus 48.5% unless either index falls by more than 30%, in which case 1% loss for each 1% decline of worse performing index
Call:	At par plus 9.7% per year if each index closes at or above its initial level on any annual review date beginning July 29, 2019
Initial levels:	3,527.18 for Stoxx and 2,818.82 for S&P
Downside thresholds:	2,469.03 for Stoxx and 1,973.17 for S&P, 70% of initial levels
Pricing date:	July 27
Settlement date:	July 31
Agent:	Goldman Sachs & Co. LLC with UBS Financial Services Inc.
Fees:	2.85%
Cusip:	36255U455

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