By Taylor Fox
New York, Nov. 16 – GS Finance Corp. priced $2.2 million of autocallable contingent coupon equity-linked notes due Oct. 19, 2022 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the barrier level, 62.1% of the initial price, the notes will pay a contingent quarterly coupon of 10.5%. Previously unpaid coupons will also be paid.
The notes will be called at par plus any contingent coupon(s) if the stock closes at or above the initial stock price on any quarterly call observation date.
The payout at maturity will be par plus any coupon(s) due unless the stock finishes below 62.1% of its initial price, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Facebook, Inc.
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| Amount: | $2.2 million
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| Maturity: | Oct. 19, 2022
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| Coupon: | 10.5% annual rate, payable quarterly if stock closes at or above barrier level on the valuation date for that quarter; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par plus coupon(s) unless the stock finishes below 62.1% of its initial level, in which case investors will lose 1% for each 1% decline
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| Call: | At par plus contingent coupon(s) if stock closes at or above initial stock price on any quarterly determination date
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| Initial stock price: | $265.93
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| Barrier level: | 62.1% of initial stock price
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Agent: | Goldman Sachs & Co. LLC
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| Placement agent: | JPMorgan
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| Fees: | 1.65%
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| Cusip: | 40057EGB7
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