By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – GS Finance Corp. priced $323,000 of 0% bearish autocallable notes due Sept. 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 5% a year if the index’s closing level is below than or equal to its call level on any annual call date. The call level is 90% of the initial level on the first call date and declines by 5% each year.
If the notes are not automatically called and the index return is greater than or equal to zero, the payout will be par.
If the index return is negative, the payout will be par plus the absolute value of the index return up to a maximum payout of par plus 5%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| 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
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| Amount: | $323,000
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| Maturity: | Sept. 4, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is greater than or equal to zero, par; if index return is less than zero, par plus absolute value of index return up to 5% maximum gain
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| Call: | Automatically at par plus 5% a year if index’s closing level is less than the call level on an annual call date; call level is 90% on the first call date and declines by 5% each year
|
| Initial level: | 2,869.16
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 30
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.78%
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| Cusip: | 40056ZS7
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