By Wendy Van Sickle
Columbus, Ohio, Jan. 21 – GS Finance Corp. priced $12.25 million of contingent income autocallable securities due Jan. 19, 2024 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.
Each quarter, the notes pay a contingent coupon at an annualized rate of 10% if the stock closes at or above its downside threshold level, 70% of its initial share price, on the observation date that quarter.
The notes will be automatically called at par of $10 if the stock closes at or above its initial share price on any quarterly observation date other than the final date.
If the stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the stock declines from its initial share price.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Facebook, Inc.
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| Amount: | $12,249,750
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| Maturity: | Jan. 19, 2024
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| Coupon: | 10% annualized, payable each quarter that stock closes at or above downside threshold level on observation date that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | If stock finishes at or above downside threshold level, par plus contingent coupon; otherwise, 1% loss for every 1% that stock declines from initial share price
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| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date other than final date
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| Initial share price: | $251.36
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| Downside threshold: | $175.952, 70% of initial share price
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.675%
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| Cusip: | 36259U378
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