By William Gullotti
Buffalo, N.Y., April 25 – GS Finance Corp. priced $1.75 million of autocallable contingent coupon equity-linked notes due April 24, 2025 linked to the stocks of Apple Inc., Amazon.com, Inc. and 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 monthly coupon at an annual rate of 20.5% if each stock closes at or above its coupon barrier price, 60% of its initial price, on a related determination date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date after three months.
If the notes are not called and the final share price of each stock is greater than or equal to the 60% final barrier, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock 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 stocks: | Apple Inc., Amazon.com, Inc., Tesla, Inc.
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| Amount: | $1,747,000
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| Maturity: | April 24, 2025
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| Coupon: | 20.5% annual rate, payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above 60% of its initial share price; otherwise, full exposure to decline of least performing stock from initial share price
|
| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after three months
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| Initial share prices: | $167.63 for Apple, $104.30 for Amazon, $180.59 for Tesla
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| Coupon barrier prices: | 60% of initial levels
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| Final barrier prices: | 60% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057RGU6
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