By Susanna Moon
Chicago, Aug. 3 – GS Finance Corp. priced $2.07 million of autocallable contingent coupon notes due Aug. 3, 2021 linked to the least performing of the common stocks of ConocoPhillips and Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlying stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless either stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | ConocoPhillips (Symbol: COP), Chevron Corp. (Symbol: CVX)
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| Amount: | $2,069,000
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| Maturity: | Aug. 3, 2021
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| Coupon: | 8% annualized, payable quarterly if each stock closes at or above 65% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes below 65% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call review date
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| Initial levels: | $71.45 for ConocoPhillips, $125.97 for Chevron
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| Trigger levels: | 65% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 31
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.85%
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| Cusip: | 40055QMM1
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