By Kiku Steinfeld
Chicago, Jan. 25– GS Finance Corp. priced $1 million of callable contingent coupon equity-linked securities due Jan. 19, 2027 linked to the common stocks of Boeing Co., Facebook, Inc. and Alibaba Group Holding Ltd., 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 a yearly rate of 22.5% if each stock closes above the barrier price, 70% of the initial price, on the determination date for that month.
The notes will be callable in whole at par on any monthly call observation date beginning in April 2021.
If the notes are not called and the final share price of each stock is greater than or equal to the barrier price, 55% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline in the share price of the least 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: | Callable contingent coupon equity-linked securities
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| Underlying stocks: | Boeing Co., Facebook, Inc. and Alibaba Group Holding Ltd.
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| Amount: | $1 million
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| Maturity: | Jan. 19, 2027
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| Coupon: | 22.5% per year, payable monthly if closing price of each stock is greater than or equal to coupon barrier level on monthly determination date
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| Price: | Par
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| Payout at maturity: | Par if each stock closes at or above 55% of its initial share price; otherwise, full exposure to decline of least performing stock
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| Call: | At par on any monthly call observation date beginning in April 2021
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| Initial share prices: | $207.21 for Boeing, $251.64 for Facebook and $235.30 for Alibaba
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| Coupon barrier levels: | 70% of initial share prices
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| Barrier prices: | 55% of initial share prices
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.1%
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| Cusip: | 40057F5L4
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