By Susanna Moon
Chicago, Oct. 2 – GS Finance Corp. priced $1.2 million of autocallable contingent coupon notes due Sept. 26, 2023 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.65% if the underlying asset closes at or above its 75% coupon barrier on the observation date for that month.
The notes will be called at par if the asset closes at or above its initial level on any review date after one year.
The payout at maturity will be par unless the asset falls by more than 25%, in which case investors will be fully exposed to any losses.
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 asset: | iShares MSCI Emerging Markets ETF
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| Amount: | $1.2 million
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| Maturity: | Sept. 26, 2023
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| Coupon: | 9.65% annualized, payable monthly if asset closes at or above 75% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | If asset finishes at or above 75% barrier level, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if fund closes at or above its initial level on any call review date from September 2019 through June 2023
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| Initial level: | $43.23
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| Barrier level: | 75% of initial level
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.35%
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| Cusip: | 40055QZC9
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