By Kiku Steinfeld
Chicago, July 12 – GS Finance Corp. priced $6.29 million of autocallable contingent coupon notes due June 2, 2026 linked to the SPDR S&P Metals & Mining ETF and the VanEck Vectors Gold Miners 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 of 8.5% per annum if each ETF closes at or above its 80% coupon trigger level on the determination date for that month.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any monthly call observation date after one year.
The payout at maturity will be par unless any ETF closes below 80% of its initial level, in which case investors will be fully exposed to the decline of the least performing ETF beyond 20%.
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: | Autocallable contingent coupon notes
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| Underlying ETFs: | SPDR S&P Metals & Mining ETF and the VanEck Vectors Gold Miners ETF
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| Amount: | $6,289,000
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| Maturity: | June 2, 2026
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| Contingent coupon: | 8.5% annualized, payable monthly if each ETF closes at or above 80% coupon trigger level on the determination date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any ETF closes below 80% of its initial level, in which case investors will be fully exposed to the decline of the least performing ETF beyond 20%
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| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly call observation date after one year
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| Initial ETF levels: | $44.28 for Metals & Mining, $39.52 for Gold Miners
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| Trigger levels: | 80% of initial levels
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| Pricing date: | May 25
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| Settlement date: | May 28
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057HE89
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