By Kiku Steinfeld
Chicago, Feb. 10 – GS Finance Corp. priced $705,000 of autocallable contingent coupon notes due Feb. 3, 2022 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes will pay a contingent coupon at a rate of 4.5% per year if the shares close at or above the coupon trigger, 80% of the initial share price, on the valuation date for that month.
The notes will be automatically called at par plus the coupon if the shares close at or above the initial share price on any monthly valuation date after six months other than the final valuation date.
If the notes are not called and the final share price is greater than or equal to the trigger buffer, 80% of the initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to losses of the ETF beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $705,000
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| Maturity: | Feb. 3, 2022
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| Contingent coupon: | 4.5%, per year, payable monthly if ETF closes at or above coupon trigger on monthly valuation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless ETF finishes below trigger buffer, in which case full exposure to losses beyond 20%
|
| Call: | Automatically at par plus coupon on any monthly valuation date after six months other than final one
|
| Initial price: | $19.70
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| Coupon trigger/trigger buffer level: | 80% of initial share price
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 30
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.925%
|
| Cusip: | 40056YCQ5
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