By William Gullotti
Buffalo, N.Y., Jan. 12 – GS Finance Corp. priced $6.11 million of autocallable contingent coupon ETF-linked notes due Jan. 12, 2029 tied to the SPDR S&P Metals & Mining ETF, the Energy Select Sector SPDR Fund and the Technology Select Sector SPDR Fund, 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 annual rate of 10.75% if each ETF closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each ETF closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and each ETF finishes at or above its coupon trigger, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon trigger but at or above 60% of initial value, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
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 ETF-linked notes
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| Underlying ETFs: | Energy Select Sector SPDR Fund, Technology Select Sector SPDR Fund, SPDR S&P Metals & Mining ETF
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| Amount: | $6.11 million
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| Maturity: | Jan. 12, 2029
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| Coupon: | 10.75% annualized rate, payable monthly if each ETF closes at or above coupon trigger level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above coupon trigger level, par plus final coupon; if worst performer finishes below coupon trigger level but at or above trigger buffer level, par; otherwise, full exposure to decline of worst performer from initial level
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| Call: | At par plus coupon if each ETF closes at or above its initial level on any quarterly call observation date after one year
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| Initial ETF levels: | $84.68 for Energy, $184.12 for Technology, $58.17 for Metals & Mining
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| Coupon trigger levels: | 70% of initial levels
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057XS89
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