By William Gullotti
Buffalo, N.Y., Aug. 17 – GS Finance Corp. priced $2 million of callable contingent coupon equity-linked notes due Aug. 8, 2024 linked to the shares of Activision Blizzard, Inc., Electronic Arts Inc. and Take-Two Interactive Software, Inc., according to a 424B2 filing with the Notes and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 18.5% if each stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes are callable at par plus any coupon due on any quarterly call valuation date.
If the notes are not called, and each stock finishes greater than or equal to 70% of the initial price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to decline of the worst performer.
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: | Callable contingent coupon equity-linked notes
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| Underlying stocks: | Activision Blizzard, Inc., Electronic Arts Inc., Take-Two Interactive Software, Inc.
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| Amount: | $2 million
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| Maturity: | Aug. 8, 2024
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| Coupon: | 18.5% per year, payable quarterly if closing price of each stock is greater than or equal to coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If all stocks finish at or above their barrier level, par plus the final coupon; otherwise full exposure to the worst performer’s decline from its initial level
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| Call: | At par plus any coupon due on any quarterly call valuation date
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| Initial share price: | $79.5374 for Activision Blizzard, $140.0254 for EA, $159.0447 for Take-Two
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| Coupon barrier price: | 70% of initial share price
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| Barrier level: | 70% of initial share price
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| Strike date: | Aug. 3
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| Pricing date: | Aug. 5
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| Settlement date: | Aug. 10
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.35%
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| Cusip: | 40057J6B7
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