By Sarah Lizee
Olympia, Wash., Jan. 23 – GS Finance Corp. priced $305,000 of autocallable contingent coupon equity-linked notes due Feb. 3, 2021 linked to UnitedHealth Group Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the coupon trigger level, 79.58% of the initial price, on the determination date for a quarter, the notes will pay a contingent quarterly coupon at an annual rate of 10% for that quarter plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
If the stock return is greater than or equal to negative 20.42%, the payout at maturity will be par.
Otherwise, investors will be exposed to the decline of the stock.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | UnitedHealth Group Inc.
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| Amount: | $305,000
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| Maturity: | Feb. 3, 2021
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| Coupon: | 10% per year, payable quarterly if shares close at or above trigger level on a related determination date, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
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| Payout at maturity: | If the stock return is greater than or equal to negative 20.42%, par; otherwise, investors will be exposed to the decline of the stock
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
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| Initial share price: | $298.47
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| Trigger level: | 79.58% of initial share price
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 23
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1.1%
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| Cusip: | 40056YBZ6
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