By Taylor Fox
New York, Nov. 16 – GS Finance Corp. priced $3.73 million of autocallable contingent coupon equity-linked notes due Nov. 3, 2021 linked to FedEx Corp. common stock, 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, 80% of the initial price, the notes will pay a contingent quarterly coupon at an annual rate of 19.55%. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial stock price on any determination date.
The payout at maturity will be par plus the coupon(s) unless the stock finishes below 80% of its initial price, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | FedEx Corp.
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| Amount: | $3,729,000
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| Maturity: | Nov. 3, 2021
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| Coupon: | 19.55% annual rate, payable quarterly if stock finishes above barrier level on related observation date; payments include previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon(s) unless the stock finishes below 80% of its initial level, in which case investors will lose 1% for each 1% decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial stock price on any quarterly determination date
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| Initial stock price: | $283.87
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| Barrier level: | 80% of initial stock price
|
| Pricing date: | Oct. 16
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| Settlement date: | Oct. 21
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.1%
|
| Cusip: | 40057EFN2
|
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