Chicago, Aug. 15 – GS Finance Corp. priced $1.54 million of autocallable contingent coupon equity-linked notes due Aug. 4, 2025 linked to the stocks of Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp., 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 12.5% if each stock closes above its coupon barrier price, 55% of its initial price, on a related determination date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the least performing stock finishes above its 55% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the least 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: | Apple Inc., Amazon.com, Inc., Alphabet Inc. and Microsoft Corp.
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Amount: | $1,537,000
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Maturity: | Aug. 4, 2025
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Coupon: | 12.5% 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 if all stocks finish above final barrier prices; otherwise, full exposure to decline of worst performer 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 quarterly observation date after six months
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Initial share prices: | $151.6 for Apple, $114.81 for Amazon, $105.44 for Alphabet, $251.9 for Microsoft
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Coupon barrier prices: | 55% of initial levels
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Final barrier prices: | 55% of initial levels
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Pricing date: | July 26
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Settlement date: | July 29
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 3%
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Cusip: | 40057ML23
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