New Issue: Goldman prices $461,000 2.5625% fixed coupon autocalls linked to Alibaba

By Kiku Steinfeld

Chicago, July 5 – GS Finance Corp. priced $461,000 of 10.25% autocallable fixed coupon equity-linked notes due Sept. 14, 2020 linked to the common stock of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes will be called at par if the stock closes at or above its initial level on any review date after six months.

The payout at maturity will be par unless the stock ever closes below its 70% downside threshold during the life of the notes, in which case investors will be fully exposed to any losses in the stock return with a maximum payout of par.

The guarantor is Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Autocallable fixed coupon equity-linked notes
Underlying stock:	Alibaba Group Holding Ltd. (Symbol: BABA UN)
Amount:	$461,000
Maturity:	Sept. 14, 2020
Coupon:	10.25% annualized, payable quarterly
Price:	Par
Payout at maturity:	If stock never closes below 70% downside threshold, par; otherwise, 1% loss for each 1% decline with a maximum payout of par
Call:	At par if stock closes at or above its initial level on Dec.4,, March 4, 2020 or June 4, 2020
Initial level:	$154.15
Trigger level:	70% of initial level
Pricing date:	Jun. 4
Settlement date:	Jun. 7
Agent:	Goldman Sachs & Co. LLC
Fees:	2.35%
Cusip:	40056FJP1

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