By Kiku Steinfeld
Chicago, May 3 – GS Finance Corp. priced $1.04 million of autocallable contingent coupon equity-linked securities due April 22, 2026 linked to the stocks of Wells Fargo & Co. and Citigroup 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 a yearly rate of 8% if each stock closes above its coupon barrier price, 60% of its initial share price, on the determination date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date after one year.
If the notes are not called and the final share price of each stock is greater than or equal to its barrier price, 60% of its initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline in the share price of the lesser-performing stock.
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: | Wells Fargo & Co. and Citigroup Inc.
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| Amount: | $1.04 million
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| Maturity: | April 22, 2026
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| Coupon: | 8% per year, payable quarterly if closing price of each stock is greater than or equal to 60% of its initial share price on the determination date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above 60% of its initial share price; otherwise, full exposure to decline of lesser-performing stock
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| Call: | At par if closing share price of each stock is greater than or equal to initial share price on any quarterly observation date after one year
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| Initial share prices: | $42.24 for Wells Fargo and $72.54 for Citi
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| Coupon barrier prices: | 60% of initial share prices
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| Barrier prices: | 60% of initial share prices
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.43%
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| Cusip: | 40057FY32
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