By Wendy Van Sickle
Columbus, Ohio, June 17 – GS Finance Corp. priced $27.43 million of contingent income autocallable securities due June 14, 2024 linked to Shopify Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The securities will pay a contingent coupon at an annualized rate of 13% for each quarter that the underlying stock closes at or above the 70% downside threshold on the related observation date.
If the underlying stock closes at or above its initial price on any of the quarterly determination dates, the securities will be redeemed at par plus the contingent coupon.
If the underlying stock finishes at or above the 70% downside threshold, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the stock’s losses.
The underwriter is Goldman Sachs & Co. LLC. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Shopify Inc.
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| Amount: | $27,430,500
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| Maturity: | June 14, 2024
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| Coupon: | 13% annualized, payable each quarter that underlying stock closes at or above downside threshold on determination date for that quarter
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| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to losses
|
| Call: | At par plus contingent coupon if underlying stock closes at or above initial share price on any quarterly determination date
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| Initial share price: | $1,247.02
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| Downside threshold: | $872.914, 70% of initial price
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| Pricing date: | June 11
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| Settlement date: | June 16
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| Underwriter: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
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| Cusip: | 36260Y435
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