By Sarah Lizee
Olympia, Wash., July 9 – GS Finance Corp. priced $1.38 million of autocallable contingent coupon notes due July 12, 2021 linked to the common stocks of Boeing Co., Alibaba Group Holding Ltd. and Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 15.5% if each stock closes at or above its coupon trigger level, 65% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial level on any coupon determination date starting in January 2020.
The payout at maturity will be par plus the final coupon, if any, unless any stock finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing stock.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying stocks: | Boeing Co., Alibaba Group Holding Ltd. and Caterpillar Inc.
|
| Amount: | $1,381,000
|
| Maturity: | July 12, 2021
|
| Coupon: | 15.5%, payable quarterly if each stock closes at or above 65% coupon trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any stock finishes below 65% of initial level, in which case full exposure to decline of worst-performing stock
|
| Call: | Automatically at par if each stock closes at or above initial levels on any coupon determination date starting January 2020
|
| Initial levels: | $354.16 for Boeing, $175.45 for Alibaba and $135.85 for Caterpillar
|
| Pricing date: | July 5
|
| Settlement date: | July 9
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.675%
|
| Cusip: | 40056FU29
|
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