By William Gullotti
Buffalo, N.Y., July 16 – GS Finance Corp. priced $2.1 million of contingent coupon equity-linked notes due June 1, 2023 linked to the Tesla, Inc., 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 annualized rate of 12.15% if the stock closes at or above the coupon barrier level, 55% of the initial level, on the valuation date for that period.
The payout at maturity will be par unless the stock finishes below the 55% barrier level, in which case investors will be fully exposed to the loss.
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: | Contingent coupon equity-linked notes
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| Underlying stock: | Tesla, Inc.
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| Amount: | $2.1 million
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| Maturity: | June 1, 2023
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| Coupon: | 12.15% per year, payable quarterly if stock closes at or above coupon barrier on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below barrier level, in which case full exposure to decline from initial level
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| Initial level: | $619.13
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| Coupon barrier level: | 55% of initial level
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| Barrier level: | 55% of initial level
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 40057HHQ6
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