By Wendy Van Sickle
Columbus, Ohio, Jan. 23 – GS Finance Corp. priced $1 million of autocallable contingent coupon notes due July 26, 2027 linked to the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at an annual rate of 6.1% if each index closes at or above its coupon barrier, 80% of its initial level, on the observation date for that month.
After a year, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date other than the final one.
The payout at maturity will be par unless either index finishes below its 80% buffer level, in which case investors will lose 1% for every 1% that the least-performing index declines by more than 20%.
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: | Autocallable contingent coupon notes
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| Underlying indexes: | Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $1 million
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| Maturity: | July 26, 2027
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| Coupon: | 6.1%, payable monthly if each index closes at or above coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below buffer level, in which case 1% loss for every 1% that least-performing index declines beyond 20%
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| Call: | After one year automatically at par if each index closes at or above initial levels on any coupon determination date other than the final one
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| Initial levels: | 29,348.1 for Dow, 9,173.732 for Nasdaq
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| Buffer levels/ coupon barrier: | 80% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 23
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.9%
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| Cusip: | 40056YBC7
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