By Sarah Lizee
Olympia, Wash., Aug. 13 – GS Finance Corp. priced $295,000 of autocallable contingent coupon stock-linked notes due Nov. 17, 2020 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 10.5% 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 beginning in February 2020.
The payout at maturity will be par plus the final coupon unless the stock falls by more than 25%, in which case investors will lose 1% for every 1% decline of the stock.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon stock-linked notes
|
| Underlying stock: | Valero Energy Corp.
|
| Amount: | $295,000
|
| Maturity: | Nov. 17, 2020
|
| Coupon: | 10.5% per year, payable each quarter that stock closes at or above its coupon trigger on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless stock falls by more than 25%, in which case full exposure to share price decline
|
| Call: | At par plus the contingent coupon if stock closes at or above its initial level on any quarterly determination date beginning in February 2020
|
| Initial stock price: | $75.81
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 12
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.35%
|
| Cusip: | 40056FYF6
|
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