Chicago, July 28 – GS Finance Corp. priced $19.52 million of contingent income autocallable securities due July 26, 2023 linked to the worst performing of the common stocks of Signature Bank, Fifth Third Bancorp and Citizens Financial Group, 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 12% if the lowest performing stock closes at or above the 70% downside threshold on the related quarterly determination date.
The notes will be called at par of $10 plus the contingent coupon if the lowest performing stock closes at or above its initial price on any quarterly determination date after six months.
If the lowest performing stock finishes at or above the downside threshold, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% share price decline of the worst performer from its initial price.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Signature Bank, Fifth Third Bancorp and Citizens Financial Group, Inc.
|
| Amount: | $19,524,000
|
| Maturity: | July 26, 2023
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| Coupon: | 12% per year, payable each quarter that stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If lowest performing stock finishes at or above downside threshold, par plus coupon; otherwise, full exposure to share price decline of the worst performer from its initial price
|
| Call: | At par plus contingent coupon if lowest performing stock closes at or above initial price on any quarterly determination date after six months
|
| Initial share prices: | $240.77 for Signature, $36.88 for Fifth Third and $44.00 for Citizens
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| Downside threshold levels: | $168.539 for Signature, $25.816 for Fifth Third and $30.80 for Citizens; 70% of initial levels
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| Pricing date: | July 21
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| Settlement date: | July 26
|
| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 36261B392
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