By William Gullotti
Buffalo, N.Y., Sept. 13 – GS Finance Corp. priced $1.79 million of autocallable contingent coupon ETF-linked notes due Sept. 15, 2025 tied to the VanEck Gold Miners ETF and the Energy Select Sector SPDR fund, 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 13.7% if each ETF closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each ETF closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and each ETF finishes at or above 70% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the laggard ETF from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying ETFs: | VanEck Gold Miners ETF, Energy Select Sector SPDR fund
|
| Amount: | $1,791,000
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| Maturity: | Sept. 15, 2025
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| Coupon: | 13.7% annualized rate, payable monthly if each ETF closes at or above coupon trigger level on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above trigger buffer level, par plus final coupon; otherwise, full exposure to decline of laggard ETF from initial level
|
| Call: | At par plus coupon if each ETF closes at or above its initial level on any quarterly call observation date after one year
|
| Initial ETF levels: | $28.34 for VanEck, $92.05 for SPDR
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| Trigger buffer levels: | 70% of initial levels
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| Coupon trigger levels: | 70% of initial levels
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 13
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.75%
|
| Cusip: | 40057W4A2
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