By William Gullotti
Buffalo, N.Y., July 29 – GS Finance Corp. priced $1 million of autocallable contingent coupon equity-linked securities due June 2, 2022 linked to the class B common stock of ViacomCBS 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 quarterly coupon at an annualized rate of 10% if the stock closes at or above the coupon trigger price, 76.5% of the initial price, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus any contingent coupon due if the stock closes at or above the initial share price on any quarterly valuation date.
If the notes are not called and the final share price is greater than or equal to the 76.5% final buffer price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1.3072% for every 1% decline in stock price below 23.5%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | ViacomCBS Inc.
|
| Amount: | $1,000,000
|
| Maturity: | June 2, 2022
|
| Coupon: | 10% annual rate, payable each quarter the stock closes above coupon trigger level on related observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to final buffer price, par plus final coupon due, including previously unpaid coupons; otherwise, investors will lose 1.3072% for every 1% decline beyond the buffer
|
| Call: | Automatically at par plus any contingent coupon due if stock closes at or above initial level on any quarterly valuation date
|
| Initial share price: | $43.15
|
| Coupon trigger level: | 76.5% of initial level
|
| Final buffer level: | 76.5% of initial level
|
| Pricing date: | May 28
|
| Settlement date: | June 7
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.95%
|
| Cusip: | 40057HJQ4
|
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