By Sarah Lizee
Olympia, Wash., Feb. 26 – GS Finance Corp. priced $1.36 million of autocallable continent coupon ETF-linked notes due Nov. 28, 2023 linked to the iShares Silver Trust and 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.
The notes will pay a contingent monthly coupon at an annualized rate of 8.6% if each asset closes at or above its coupon trigger, 70% of its initial level, on any monthly observation date.
The notes will be called if each underlier closes at or above its initial level on any observation date after six months.
If the notes are not called and each underlier finishes at or above its trigger, 70% of its initial level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing underlier.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying assets: | iShares Silver Trust and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,355,000
|
| Maturity: | Nov. 28, 2023
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| Coupon: | 8.6%, payable monthly if each underlier closes at or above its coupon trigger on observation date
|
| Price: | Par
|
| Call: | At par plus coupon if each underlier closes at or above initial level on any observation date after six months
|
| Payout at maturity: | Par plus final coupon if each underlier finishes at or above trigger; otherwise, exposure to losses of lesser-performing underlier
|
| Initial levels: | $17.23 for silver ETF and $19.13 for oil and gas ETF
|
| Coupon trigger/trigger levels: | 70% of initial levels
|
| Pricing date: | Feb. 19
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| Settlement date: | Feb. 24
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.25%
|
| Cusip: | 40056YHZ0
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