By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $794,000 of callable contingent coupon equity-linked notes due May 4, 2023 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Notes and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 11% if the stock closes at or above the coupon trigger price, 75% of the initial price, on the valuation date for that period.
The notes may be called at par plus any coupon due on any coupon payment date.
If the notes are not called and the final share price is greater than or equal to the 75% trigger buffer price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the stock price.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | FedEx Corp.
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| Amount: | $794,000
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| Maturity: | May 4, 2023
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| Coupon: | 11% annual rate, payable quarterly if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to trigger buffer price, par plus final coupon; otherwise, full exposure to decline in the stock
|
| Call option: | At par plus any coupon on any quarterly coupon payment date at the option of the issuer
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| Initial share price: | $290.31
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| Coupon barrier price: | 75% of initial level
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| Trigger buffer price: | 75% of initial level
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| Pricing date: | April 30, 2021
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| Settlement date: | May 5, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1%
|
| Cusip: | 40057HAD2
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