By Kiku Steinfeld
Chicago, July 12 – GS Finance Corp. priced $1.09 million of autocallable contingent coupon equity-linked securities due Sept. 1, 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.
The notes will pay a contingent quarterly coupon at an annual 8.75% rate if the stock closes above the coupon barrier price, 70% of the initial price, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of the stock is greater than or equal to the trigger price, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the 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 stock: | Alibaba Group Holding Ltd.
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| Amount: | $1,094,000
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| Maturity: | Sept. 1, 2022
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| Coupon: | 8.75% per year, payable quarterly if closing price of stock is greater than or equal to 70% of initial share price on any quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if stock closes at or above 70% of its initial share price; otherwise, full exposure to decline of stock
|
| Call: | At par plus contingent coupon if closing share price of stock is greater than or equal to initial share price on any quarterly observation date after six months
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| Initial share prices: | $211.13
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| Coupon barrier/trigger prices: | 70% of initial share prices
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| Pricing date: | May 25
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| Settlement date: | May 28
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 40057HCB4
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