By Kiku Steinfeld
Chicago, June 21 – GS Finance Corp. priced $1.26 million of autocallable contingent coupon stock-linked notes due June 3, 2022 linked to Valero Energy Corp. stock, 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 quarterly coupon at a rate of 15.2% per annum if the stock closes at or above its 75% coupon trigger level on a related quarterly determination date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the stock falls by more than 75%, in which case investors will lose 1% for every 1% decline of the stock.
Goldman Sachs & Co. LLC is the underwriter with J.P. Morgan Securities LLC as the placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon stock-linked notes
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| Underlying stock: | Valero Energy Corp.
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| Amount: | $1,255,000
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| Maturity: | June 3, 2022
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| Coupon: | 15.2% per year, payable each quarter that stock closes at or above its coupon trigger level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless stock falls by more than trigger level, in which case full exposure to share price decline
|
| Call: | At par if stock closes at or above its initial level on any quarterly determination date
|
| Initial level: | $77.20
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| Final level: | Average of closing share price on each of five consecutive dates ending June 8, 2022
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| Trigger level: | 75% of initial level
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| Pricing date: | May 21
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| Settlement date: | May 26
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| Underwriter: | Goldman Sachs & Co. LLC with J.P. Morgan Securities LLC as placement agent.
|
| Fees: | 1%
|
| Cusip: | 40057HDZ0
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