By Kiku Steinfeld
Chicago, Dec. 17 – GS Finance Corp. priced $725,000 of autocallable contingent coupon equity-linked notes due Dec. 2, 2025 linked to the least performing of the common stocks of Bank of America Corp., Morgan Stanley and Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8.8% if each underlying stock closes at or above its 50% coupon barrier on the observation date for that period.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any semiannual observation date.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stocks: | Bank of America Corp., Morgan Stanley and Citigroup Inc.
|
| Amount: | $725,000
|
| Maturity: | Dec. 2, 2025
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| Coupon: | 8.8% annualized, payable semiannually if each stock closes at or above 50% coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above 50% trigger level, par plus coupon; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus coupon if each stock closes at or above its initial level on any semiannual observation date
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| Initial prices: | $33.18 for BofA, $74.87 for Citi, $49.25 for Morgan Stanley
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| Coupon barrier levels: | 50% of initial prices
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| Trigger levels: | 50% of initial prices
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| Pricing date: | Nov. 22
|
| Settlement date: | Dec. 2
|
| Agent: | Goldman Sachs & Co.
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| Fees: | 2.375%
|
| Cusip: | 40056XQZ2
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