By William Gullotti
Buffalo, N.Y., May 19 – GS Finance Corp. priced $1.4 million of callable contingent coupon equity-linked notes due Jan. 18, 2023 linked to the shares of Qualcomm Inc., 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 annualized rate of 15% for the first two observation dates and 10% for the final, if the stock closes at or above the coupon barrier price, 65% of the initial price, on the corresponding valuation date.
The notes are callable at par plus any contingent coupon otherwise due on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 65% barrier level, in which case investors will be fully exposed to decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Qualcomm Inc.
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| Amount: | $1.4 million
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| Maturity: | Jan. 18, 2023
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| Coupon: | 15% annualized for first two coupon payments, 10% annualized for the final, payable if the stock closes at or above coupon barrier price on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case investors will be fully exposed to decline
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| Call: | At par plus any coupon due on any quarterly call valuation date
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| Initial share price: | $134.93
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| Coupon barrier price: | 65% of initial share price
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| Barrier level: | 65% of initial share price
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 40057LYH8
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