By William Gullotti
Buffalo, N.Y., Dec. 7 – GS Finance Corp. priced $3 million of autocallable equity-linked securities due Dec. 5, 2024 tied to the stocks of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically redeemed at par plus a 30% annualized call premium if the worst-performing stock closes at or above 102.75% of its initial price on any quarterly observation date.
If the notes are not called and the final price of each stock is greater than or equal to 102.75% of initial price, the payout at maturity will be par plus 90%.
If the least-performing stock finishes below 102.75% of its initial price but at or above its initial price, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the least-performing stock from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Bank of America Corp., Citigroup Inc., Wells Fargo & Co.
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| Amount: | $3 million
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| Maturity: | Dec. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 90% if each stock’s final price is greater than or equal to 102.75% of its initial price; if the least-performing stock’s final price is less than 102.75% of its initial price but greater than or equal to its initial price, par; otherwise, full exposure to losses of least-performing stock
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| Call: | Automatically at par plus a 30% annualized call premium if the worst-performing stock closes at or above 102.75% of its initial price on any quarterly observation date
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| Initial prices: | $47.21 for Wells Fargo, $62.52 for Citigroup, $43.84 for BofA
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 6
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057KER0
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