By Kiku Steinfeld
Chicago, Aug. 5 – GS Finance Corp. priced $50,000 of autocallable continent coupon ETF-linked notes due July 23, 2026 linked to the VanEck Vectors Gold Miners ETF and the SPDR S&P Metals & Mining 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 at an annualized rate of 7% if each asset closes at or above its coupon trigger, 60% 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 monthly observation date after one year.
If the notes are not called and each underlier closes at or above its barrier level, 60% of its initial level, the payout at maturity will be par.
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.
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| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying assets: | VanEck Vectors Gold Miners ETF and SPDR S&P Metals & Mining ETF
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| Amount: | $50,000
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| Maturity: | July 23, 2026
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| Coupon: | 7%, 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 monthly observation date after one year
|
| Payout at maturity: | Par if each underlier closes at or above its barrier level; otherwise, exposure to losses of lesser-performing underlier
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| Initial levels: | $33.92 for gold and $40.76 for metals and mining
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| Coupon trigger levels: | 60% of initial levels
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| Barrier levels: | 60% of initial levels
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| Pricing date: | July 16
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| Settlement date: | July 21
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.5%
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| Cusip: | 40057HQ86
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