By William Gullotti
Buffalo, N.Y., Jan. 18 – GS Finance Corp. priced $2.37 million of autocallable contingent coupon equity-linked notes due Jan. 14, 2027 linked to the stocks of Datadog, Inc., Alibaba Group Holding Ltd. and Shopify 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 27.5% if each stock closes above its coupon barrier price, 60% of its initial price, on a related determination date.
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 its coupon barrier price, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier price but not below the 50% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the worst 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: | Datadog, Inc., Alibaba Group Holding Ltd., Shopify Inc.
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| Amount: | $2.37 million
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| Maturity: | Jan. 14, 2027
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| Coupon: | 27.5% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above coupon barrier price; if the worst performer finishes below its coupon barrier price but at or above its final barrier, par; otherwise, full exposure to decline of least performing stock from initial share price
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| 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: | $148.60 for Datadog, $132.19 for Alibaba, $1,157.31 for Shopify
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| Coupon barrier prices: | 60% of initial levels
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| Final barrier prices: | 50% of initial levels
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057KQU0
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