By Sarah Lizee
Olympia, Wash., Nov. 26 – GS Finance Corp. priced $752,000 of autocallable contingent coupon notes due Dec. 4, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded 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 quarterly coupon at an annual rate of 10% if the ETF closes at or above its coupon barrier level, 62.4% of its initial level, on the observation date for that period.
The notes will be called at par plus the coupon if the ETF closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless the ETF finishes below the 62.4% trigger level, in which case investors will lose 1% for each 1% that the ETF’s final level is less than its initial level.
Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $752,000
|
| Maturity: | Dec. 4, 2019
|
| Coupon: | 10% annualized, payable quarterly if the ETF closes at or above 62.4% coupon barrier on review date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon owed unless the ETF finishes below its 62.4% trigger level; otherwise, 1% loss for each 1% decline
|
| Call: | At par if each the ETF closes at or above its initial level on any quarterly call review date
|
| Initial level: | $34.75
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 21
|
| Agent: | Goldman Sachs & Co. with JPMorgan as placement agent
|
| Fees: | 1.1%
|
| Cusip: | 40056EGU6
|
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