By Emma Trincal
New York, Oct. 25 – GS Finance Corp. priced $10 million of 0% jump securities with autocallable feature due Oct. 26, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes at or above its initial level on any annual call observation date, the notes will be automatically called at par plus the call premium of 9.85% per year. The annual call observation dates start on Oct. 28, 2019.
At maturity, if the index return is positive or zero, the payout will be par plus the premium amount of 98.5%.
If the index return is negative, investors will lose 1% for each 1% decline from the initial level.
Goldman Sachs & Co. is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Jump securities with autocallable feature
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| Underlying index: | S&P 500 index
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| Amount: | $10 million
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| Maturity: | Oct. 26, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If S&P 500 return is flat or positive par plus 98.5%; if S&P 500 return is negative full exposure to loss
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| Call: | At par plus 9.85% per year if the closing level of the index is equal to or greater than its initial level on any annual observation date
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| Initial level: | 2,755.88
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| Pricing date: | Oct. 22
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| Settlement date: | Oct. 25
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| Agent: | Goldman, Sachs & Co. with Morgan Stanley Wealth Management handling distribution
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| Fees: | 0.55%
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| Cusip: | 36256M460
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