By Sarah Lizee
Olympia, Wash., Jan. 3 – GS Finance Corp. priced $860,000 of autocallable contingent coupon notes due July 6, 2026 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon of 8.25% per annum if each index closes at or above its 80% coupon trigger level on the determination date for that month.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date beginning in December 2019 to and including May 2026.
If the notes have not been called and either index falls by up to 20%, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond 20%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500, Euro Stoxx 50
|
| Amount: | $860,000
|
| Maturity: | July 6, 2026
|
| Contingent coupon: | 8.25% annualized, payable monthly if each index closes at or above 80% coupon trigger level on the determination date for that month
|
| Price: | Par
|
| Payout at maturity: | If the notes have not been called and either index falls by up to 20%, par plus coupon; otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond 20%
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date starting in December 2019 to and including May 2026
|
| Initial index levels: | 2,485.74 for S&P 500 and 2,986.53 for Stoxx
|
| Coupon trigger/buffer levels: | 1,988.592 for S&P, 2,389.224 for Stoxx; 80% of initial level
|
| Pricing date: | Dec. 28
|
| Settlement date: | Jan. 3
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.9%
|
| Cusip: | 40056EPE2
|
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