By Kiku Steinfeld
Chicago, Dec. 16 – GS Finance Corp. priced $1.15 million of callable contingent equity-linked coupon notes due Dec. 2, 2021 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.
The notes will pay a contingent quarterly coupon at an annual rate of 9.1% if the shares close at or above 70% of the initial level on the coupon payment date for that quarter.
After six months, the notes are callable in whole but not in part at par plus any contingent coupon due on any coupon payment date other than the final one.
The payout at maturity will be par plus the final coupon, unless the shares finish below 70% of the initial price, in which case investors will lose 1% for each 1% decline of the stock from the initial price.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying shares: | Facebook, Inc.
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| Amount: | $1,146,000
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| Maturity: | Dec. 2, 2021
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| Coupon: | 9.1% per year, payable each quarter that shares’ closing level is greater than or equal to 70% of initial level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless shares below its 70% trigger level, in which case investors will be fully exposed to the decline
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| Call option: | After six months, at par plus any coupon due on any coupon payment date other than final one
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| Initial price: | $201.64
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| Coupon trigger price: | $141.148, 70% of initial price
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| Trigger price: | $141.148, 70% of initial price
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.9%
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| Cusip: | 40056XUJ3
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