By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – GS Finance Corp. priced $2.45 million of autocallable contingent coupon notes due Feb. 12, 2021 linked to the SPDR S&P Biotech exchange-traded fund and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.6% if each underlying closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each underlying closes at or above its initial level on any monthly call date after a year.
The payout at maturity will be par plus the final coupon unless the return of either underlying is less than negative 30%, in which case investors will be exposed to the decline of the lesser-performing underlying from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | S&P 500 index and SPDR S&P Biotech ETF
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| Amount: | $2.45 million
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| Maturity: | Feb. 12, 2021
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| Coupon: | 8.6% per year, payable quarterly if each asset closes at or above 70% barrier on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each asset finishes at or above 70% barrier level, par; otherwise, full exposure to any losses of worst performing asset
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| Call: | At par plus contingent coupon if each asset closes at or above initial level on any monthly call date after a year
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| Initial levels: | $97.03 for ETF and 2,853.53 for index
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| Barrier levels: | $67.921 for ETF and 1,997.471 for index; 70% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.95%
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| Cusip: | 40055AH42
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