By Sarah Lizee
Olympia, Wash., Dec. 23 – GS Finance Corp. priced $790,000 of autocallable continent coupon underlier-linked notes due Sept. 12, 2023 linked to the Dow Jones industrial average and the 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 monthly coupon at an annualized rate of 6.9% if each asset closes at or above 70% of its initial level on any monthly observation date.
The notes will be called if each underlier closes at or above its initial level on any observation date after six months.
If the lesser-performing index gains or falls by no more than 30%, the payout at maturity will be par.
If either underlier falls by more than 30%, investors will lose 1% for every 1% decline of the lesser performing underlier.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
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| Underlying assets: | Dow Jones industrial average and SPDR S&P Biotech ETF
|
| Amount: | $790,000
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| Maturity: | Sept. 12, 2023
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| Coupon: | 6.9%, payable monthly if each underlier closes at or above 70% of initial level on observation date
|
| Price: | Par
|
| Call: | At par plus coupon if each underlier closes at or above initial level on any observation date after six months
|
| Payout at maturity: | Par unless lesser-performing underlier falls by more than 30%; exposure to losses of lesser-performing underlier if any falls by more than 30%
|
| Initial levels: | 27,502.81 for index and $93.68 for ETF
|
| Pricing date: | Dec. 3
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| Settlement date: | Dec. 6
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.25%
|
| Cusip: | 40056XSC1
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