By Wendy Van Sickle
Columbus, Ohio, July 8 – GS Finance Corp. priced $36,000 of 0% bearish autocallable notes due July 8, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an annual premium of 5% on any annual call date if the closing level of the index is at or below 90% of its starting level on any observation date.
At maturity, if the final index level is less than or equal to the index's starting level, the payout will be par plus the absolute value of its return, up to a maximum gain of 5%. If the final index level is greater than the initial level, the payout will be par.
The underwriter is Goldman Sachs & Co. LLC.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish autocallable notes
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| Underlying index: | S&P 500 index
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| Amount: | $36,000
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| Maturity: | July 8, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final index level is less than the index's starting level, par plus absolute value of its return up to par plus 5%; if the final index level is greater than the initial level, par
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| Call: | Automatically called at par plus an annual premium of 5% on any annual call date if the closing level of the index is at or below 90% of its starting level on any observation date
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| Initial level: | 2,941.76
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.6%
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| Cusip: | 40056FPU3
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