By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – GS Finance Corp. priced $1.96 million of autocallable contingent coupon equity-linked notes due Aug. 27, 2020 linked to Facebook, Inc. class A common shares, 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, 75% of the initial price, on the valuation date for a quarter, the notes will pay a contingent quarterly coupon at an annual rate of 11%.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 75% barrier level, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. is the 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: | $1,963,000
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| Maturity: | Aug. 27, 2020
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| Coupon: | 11% per year, payable if shares close at or above barrier level on a quarterly valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus final coupon; otherwise, 1% loss for each 1% decline
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly valuation date
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| Initial share price: | $173.64
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| Barrier level: | $130.23, 75% of initial share price
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 27
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 1.925%
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| Cusip: | 40055QTT9
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