By Kiku Steinfeld
Chicago, July 15 – GS Finance Corp. priced $892,000 of autocallable contingent coupon equity-linked securities due July 6, 2020 linked to the common stocks of Apple, Inc., Amazon.com, Inc. and Valero Energy Corp., 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 a yearly rate of 9.75% if each stock closes above the barrier price, 60% of the initial price, on the determination date for that month.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date, beginning in September.
If the notes are not called and the final share price of each stock is greater than or equal to the barrier price, 60% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price of the least performing stock.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Apple, Inc., Amazon.com, Inc. and Valero Energy Corp.
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| Amount: | $892,000
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| Maturity: | July 6, 2020
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| Coupon: | 9.75% per year, payable monthly if closing price of each stock is greater than or equal to 60% of initial share price on monthly determination date
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock closes at or above 60% of its initial share price; otherwise, full exposure to decline of least performing stock
|
| Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly observation date beginning in September
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| Initial share prices: | $197.92 for Apple, $1,893.63 for Amazon.com and $85.61 for Valero
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| Barrier prices: | $118.752 for Apple, $1,136.178 for Amazon.com and $51.366 for Valero; 60% of initial share prices
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.1% Cusip: | 40056FPV1
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