By William Gullotti
Buffalo, N.Y., Nov. 9 – GS Finance Corp. priced $1.12 million of callable contingent coupon ETF-linked notes due May 4, 2026 tied to the iShares 20+ Year Treasury Bond ETF, 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 monthly coupon at an annual rate of 10.3% if the ETF closes at or above the coupon trigger level, 80% of the initial level, on the relevant observation date.
After six months, the notes will be callable at par plus any coupon otherwise due on any monthly observation date.
If the notes are not called and the ETF finishes at or above 80% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will be exposed to the ETF’s decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon ETF-linked notes
|
| Underlying fund: | iShares 20+ Year Treasury Bond ETF
|
| Amount: | $1,121,000
|
| Maturity: | May 4, 2026
|
| Coupon: | 10.3% annualized rate, payable monthly if the ETF closes at or above coupon trigger level on the related observation date
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes at or above trigger buffer level, par plus final coupon; otherwise, 1% loss for every 1% decline from initial level
|
| Call: | At par plus any coupon otherwise due on any monthly observation date after six months
|
| Initial ETF level: | $83.58
|
| Trigger buffer level: | 80% of initial level
|
| Coupon trigger level: | 80% of initial level
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.97%
|
| Cusip: | 40057WX51
|
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