By Wendy Van Sickle
Columbus, Ohio, June 16 – GS Finance Corp. priced $32.63 million of trigger autocallable contingent yield notes due June 13, 2024 linked to the SPDR S&P 500 ETF Trust and SPDR S&P Biotech ETF, 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 rate of 6.72% if each ETF closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each ETF closes at or above its initial level on any observation date after six months.
The payout at maturity will be par plus any coupon due unless either ETF finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETFs: | SPDR S&P 500 ETF Trust and SPDR S&P Biotech ETF
|
| Amount: | $32,629,030
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| Maturity: | June 13, 2024
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| Coupon: | 6.72%, payable quarterly if each ETF closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any observation date after six months
|
| Payout at maturity: | Par plus any coupon unless ETF closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing ETF from initial level
|
| Initial levels: | $421.65 for SPDR S&P 500, $134.71 for Biotech
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| Coupon barriers: | $295.16 for SPDR S&P 500, $94.30 for Biotech, 70% of initial levels
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| Downside thresholds: | $295.16 for SPDR S&P 500, $94.30 for Biotech, 70% of initial levels
|
| Pricing date: | June 9
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| Settlement date: | June 14
|
| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 2%
|
| Cusip: | 36260Y468
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