By Taylor Fox
New York, Dec. 30 – GS Finance Corp. priced $1.2 million of callable contingent coupon equity-linked notes due Dec. 6, 2022 linked to the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 11% if the stock closes at or above 70% of its initial level on the related observation date.
The notes are callable at par plus any coupon due on any quarterly coupon payment date.
The payout at maturity will be par if the stock closes at or below 60% of its initial level. If the stock return is less than the 60% buffer price, investors will receive par plus the return.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon equity-linked notes
|
| Underlying stock: | Alibaba Group Holding Ltd.
|
| Amount: | $1,200,000
|
| Maturity: | Dec. 6, 2022
|
| Coupon: | 11% per year, payable each quarter that stock closes at or above coupon trigger level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if the stock closes at or below 60% of its initial level; if the stock return is less than the 60% buffer price, investors will receive par plus the return
|
| Call option: | At par plus any coupon due on any quarterly coupon payment date
|
| Initial stock level: | $264.01
|
| Coupon trigger level: | 70% of initial level
|
| Trigger buffer level: | 60% of initial level
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 7
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.85%
|
| Cusip: | 40057ET23
|
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