By Kiku Steinfeld
Chicago, Sept. 13 – GS Finance Corp. priced $2.2 million of callable contingent coupon ETF-linked notes due June 5, 2023 linked to the ARK Innovation 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 annual rate of 8.95% if the ETF closes at or above its coupon barrier, 65% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any monthly coupon payment date beginning after six months.
The payout at maturity will be par unless the ETF finishes below its 65% barrier, in which case investors will lose 1% for each 1% decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon ETF-linked notes
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $2,195,000
|
| Maturity: | June 5, 2023
|
| Coupon: | 8.95% annual rate, payable monthly if ETF closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if ETF finishes above barrier level; otherwise, 1% for each 1% decline of ETF from initial level
|
| Call option: | At par plus any coupon due on any monthly coupon payment date after six months
|
| Initial levels: | $122.03
|
| Coupon barrier level: | 65% of initial level
|
| Barrier level: | 65% of initial level
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.375%
|
| Cusip: | 40057JGB6
|
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