By Wendy Van Sickle
Columbus, Ohio, Oct. 15 – GS Finance Corp. priced $4.1 million of autocallable contingent coupon notes due Oct. 6, 2022 linked to the iShares Silver trust and SPDR Gold trust, 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 of 10.4% per annum if each ETF closes at or above its 65% coupon trigger level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any quarterly call observation date starting after six months.
The payout at maturity will be par unless any ETF closes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least performing ETF from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying ETFs: | iShares Silver trust and SPDR Gold trust
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| Amount: | $4,104,000
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| Maturity: | Oct. 6, 2022
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| Contingent coupon: | 10.4% annualized, payable quarterly if each ETF closes at or above 70% coupon trigger level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF closes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least performing ETF from its initial level
|
| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any quarterly call observation date starting after six months
|
| Initial ETF levels: | $22.13 for silver, $178.54 for gold
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| Trigger levels: | 65% of initial levels
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| Pricing date: | Oct. 2
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| Settlement date: | Oct. 7
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.9%
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| Cusip: | 40057EE94
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