By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – GS Finance Corp. priced $1.39 million of autocallable contingent coupon notes due Sept. 2, 2022 linked to the common stocks of Walt Disney Co., Lowe’s Cos., Inc. and Nike, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annual rate of 9.6504% if each stock closes at or above its coupon trigger level, 60% of its initial level, on the observation date for that month.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par plus the final coupon, if any, unless any stock finishes below 60% 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.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Walt Disney Co., Lowe’s Cos., Inc. and Nike, Inc.
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| Amount: | $1,385,000
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| Maturity: | Sept. 2, 2022
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| Coupon: | 9.6504%, payable monthly if each stock closes at or above 60% coupon trigger level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any stock finishes below 60% 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 quarterly determination date after six months
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| Initial levels: | $134.61 for Disney, $106.40 for Lowe’s and $82.25 for Nike
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 29
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
|
| Cusip: | 40056FZ99
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