By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – GS Finance Corp. priced $2.8 million of autocallable contingent coupon notes due Sept. 5, 2019 linked to the ordinary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 70.45% coupon barrier on the observation date for that quarter, in which case a coupon will also be paid for any previous quarter during the life of the notes for which no coupon was paid.
The notes will be called at par if the stock closes at or above its initial level on any review date.
The payout at maturity will be par unless the stock finishes below its 70.45% trigger level, in which case investors will be fully exposed to any losses of the stock.
The guarantor is Goldman Sachs Group, Inc.
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 notes
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| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $2,795,000
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| Maturity: | Sept. 5, 2019
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| Coupon: | 10% annualized, payable quarterly if stock closes at or above its 70.45% coupon barrier on the observation date for that quarter, in which case a coupon will also be paid for any previous quarter during life of the notes for which no coupon was paid
|
| Price: | Par
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| Payout at maturity: | If stock finishes above 70.45% trigger level, par; otherwise, 1% loss for each 1% decline of stock
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| Call: | At par if stock closes at or above its initial level on any quarterly review date
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| Initial level: | $172.78
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| Trigger level: | $121.72351, 70.45% of initial level
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 22
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
|
| Fees: | 1.1%
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| Cusip: | 40055QTQ5
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