By William Gullotti
Buffalo, N.Y., Feb. 24 – GS Finance Corp. priced $5.39 million of contingent income autocallable securities due April 26, 2024 linked to Facebook, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will pay a contingent coupon at an annual rate of 11%, paid quarterly, if the underlying stock closes at or above the 80% downside threshold on any related observation date.
If the underlying stock closes at or above its initial price on any of the quarterly determination dates, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Goldman Sachs Group, Inc.
The agent is Goldman Sachs & Co. LLC.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | Facebook, Inc.
|
| Amount: | $5,385,000
|
| Maturity: | April 26, 2024
|
| Coupon: | 11% annual rate, paid quarterly if underlying stock closes at or above downside threshold level on determination date for that period
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to any losses
|
| Call: | At par plus contingent payment if underlying stock closes at or above initial share price on any quarterly determination date
|
| Initial share price: | $301.13
|
| Downside threshold level: | $240.904; 80% of initial price
|
| Pricing date: | April 23, 2021
|
| Settlement date: | April 28, 2021
|
| Agents: | Goldman Sachs & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 36260W470
|
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