By Wendy Van Sickle
Columbus, Ohio, Jan. 22 – GS Finance Corp. priced $1.17 million of autocallable continent coupon ETF-linked notes due July 23, 2021 linked to the SPDR S&P Biotech exchange-traded fund and 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 contingent monthly coupon at an annualized rate of 15.5% if each asset closes at or above its coupon trigger,70% 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 observation date after six months.
If the notes are not called and each underlier closes at or above its initial level or neither underlier has ever closed below its trigger, 70% of its initial level, any day during the life of the notes, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing underlier.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying assets: | SPDR S&P Biotech exchange-traded fund and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,171,000
|
| Maturity: | July 23, 2021
|
| Coupon: | 15.5%, 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 observation date after six months
|
| Payout at maturity: | Par plus final coupon if each underlier closes above initial level or neither has ever closed below its 70% trigger; otherwise, exposure to losses of lesser-performing underlier
|
| Initial levels: | $97.08 for biotech ETF and $22.74 for oil and gas ETF
|
| Coupon trigger/trigger levels: | 70% of initial levels
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 22
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.67%
|
| Cusip: | 40056YA53
|
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