By Kiku Steinfeld
Chicago, Feb. 6 – GS Finance Corp. priced $5.21 million of contingent income autocallable securities due Jan. 27, 2023 linked to the common stock of Microsoft Corp., 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 7.85% if the shares close at or above the 80% downside threshold level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if Microsoft shares close at or above the initial price beginning after six months.
The payout at maturity will be par plus the final coupon unless the shares finish below the downside threshold level, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Microsoft Corp.
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| Amount: | $5,206,500
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| Maturity: | Jan. 27, 2023
|
| Coupon: | 7.85% per year, payable quarterly if Microsoft shares close at or above downside threshold level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if Microsoft shares close at or above initial share price beginning after six months
|
| Initial share price: | $165.04
|
| Downside threshold: | $132.032, 80% of initial share price
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Underwriter: | Goldman Sachs & Co.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.675%
|
| Cusip: | 36259H211
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