By Sarah Lizee
Olympia, Wash., July 16 – GS Finance Corp. priced $10.65 million of 0% bearish autocallable absolute return notes due July 15, 2021 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.
If on any day during the life of the notes the closing level of the underlier is less than 71.5% of the initial underlier level, the notes will be automatically called at par.
If the notes are not called and the index return is greater than or equal to zero, the payout will be par.
If the index return is less than zero but greater than or equal to negative 28.5%, the payout will be par plus the absolute value of the index return.
If the index return is less than negative 28.5%, the payout will be par.
The underwriter is Goldman Sachs & Co. LLC. The placement agent is J.P. Morgan Securities LLC.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish autocallable absolute return notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $10,647,000
|
| Maturity: | July 15, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is greater than or equal to zero, par; if index return is less than zero but greater than or equal to negative 28.5%, par plus the absolute value of the index return; if the index return is less than negative 28.5%, par
|
| Call: | If on any day during the life of the notes the closing level of the underlier is less than 71.5% of the initial underlier level, notes will be automatically called at par
|
| Initial level: | 3,013.77
|
| Pricing date: | July 12
|
| Settlement date: | July 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.65%
|
| Cusip: | 40056FU86
|
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