By Wendy Van Sickle
Columbus, Ohio, Aug. 11 – GS Finance Corp. priced $10 million of autocallable contingent coupon index-linked securities due Aug. 13, 2024 linked to the S&P MidCap 400 index, 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 10.68% if the index closes at or above the coupon barrier level, 87% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the index close at or above the initial level on any monthly valuation date.
If the notes are not called and the final level is greater than or equal to the 87% final buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will have a 1.1494% loss for each 1% decline of the index level beyond the 13% buffer.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked securities
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| Underlying index: | S&P MidCap 400 index
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| Amount: | $10 million
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| Maturity: | Aug. 13, 2024
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| Coupon: | 10.68% annually, payable monthly, if index closes at or above coupon barrier level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If notes are not called and final level is greater than or equal to final buffer level, par plus final coupon; otherwise, 1.1494% loss for each 1% decline in the index beyond 13% buffer
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| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any monthly valuation date
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| Initial level: | 2,703.15
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| Coupon barrier level: | 87% of initial level
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| Final buffer level: | 87% of initial level
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 10
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 0.1%
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| Cusip: | 40057TU44
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