By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – GS Finance Corp. priced $5 million of trigger autocallable contingent yield notes due Aug. 18, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 5.8% if the index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if the index closes at or above its initial level on any quarterly observation date beginning in August 2020.
The payout at maturity will be par plus the final coupon unless the index finishes below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% decline.
Goldman Sachs & Co. is the agent with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying index: | S&P 500
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| Amount: | $5 million
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| Maturity: | Aug. 18, 2022
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| Coupon: | 5.8%, payable quarterly if index closes at or above coupon barrier level on observation date
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if index closes at or above initial level on any observation date after one year
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| Payout at maturity: | Par plus coupon unless index finishes below downside threshold level, in which case 1% loss for each 1% decline of from initial level
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| Initial level: | 2,840.6
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| Coupon barrier/threshold: | 1,988.42, 70% of initial level
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 20
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co.
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| Fees: | 1.575%
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| Cusip: | 36257W749
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