By Sarah Lizee
Olympia, Wash., May 8 – GS Finance Corp. priced $5.63 million of 6.5% autocallable fixed-coupon notes due Aug. 13, 2020 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial level on Nov. 6, Feb. 6, 2020 or May 6, 2020.
If the notes are not subject to an automatic call, the payout at maturity will be par unless the stock has closed below the 78% trigger level during the life of the notes and finishes below its initial level. In that case, investors will lose 1% for each 1% decline of the stock from its initial level.
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 fixed-coupon notes
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Underlying stock: | Apple Inc.
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Amount: | $5,626,000
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Maturity: | Aug. 13, 2020
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Coupon: | 6.5%, payable quarterly
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Price: | Par
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Call: | At par plus the coupon if the stock closes at or above its initial level on Nov. 6, Feb. 6, 2020 or May 6, 2020
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Payout at maturity: | Par unless the stock has closed below the 78% trigger level during the life of the notes and finishes below its initial level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
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Initial level: | $208.48
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Pricing date: | May 6
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Settlement date: | May 9
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.35%
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Cusip: | 40056FD69
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