New York, May 26 – GS Finance Corp. priced $8.87 million of contingent income autocallable securities due May 23, 2024 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon of 10.3%, paid quarterly, if the stock closes at or above its 55% downside threshold on the relevant observation date.
The securities will be called automatically at par if the stock closes at or above its initial level on any quarterly valuation date.
At maturity, the payout will be par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Bank of America Corp.
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| Amount: | $8,873,000
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| Maturity: | May 23, 2024
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| Coupon: | 10.3%, paid quarterly, if the stock closes at or above its 55% downside threshold on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically at par if the stock closes at or above its initial level on any quarterly valuation date
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| Initial level: | $28.11
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| Downside threshold: | $15.4605, 55% of initial level
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| Pricing date: | May 19
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| Settlement date: | May 24
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.75%
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| Cusip: | 40057RVW5
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