By William Gullotti
Buffalo, N.Y., July 8 – GS Finance Corp. priced $714,000 of 0% autocallable contingent coupon underlier-linked notes due July 8, 2026 linked to the least performing of the S&P 500 index, the SPDR Gold Trust and the iShares Silver 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 quarterly contingent coupon of 5.3% annually if each underlier is at or above the 70% coupon trigger level on the corresponding observation date.
The notes will be automatically called at par plus coupon if each underlier closes at or above initial levels on the relevant observation date after one year.
At maturity, if each underlier finishes at or above its coupon trigger, the payout will be par plus the final coupon.
If the laggard underlier falls by up to 40%, the payout will be par. Otherwise, investors will be exposed to the decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
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| Underlying assets: | S&P 500 index, SPDR Gold Trust, iShares Silver Trust
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| Amount: | $714,000
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| Maturity: | July 8, 2026
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| Coupon: | Payable quarterly at an annual rate of 5.3% if each underlier is at or above the coupon trigger level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus coupon if each underlier finishes at or above coupon trigger; par if laggard underlier falls by up to 40%; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial levels on the relevant observation date after one year
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| Initial levels: | 4,319.94 for S&P, $166.20 for Gold, $24.11 for Silver
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| Coupon trigger: | 70% of initial levels
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| Trigger levels: | 60% of initial levels
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| Pricing date: | July 1
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| Settlement date: | July 7
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057HPT1
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