By Sarah Lizee
Olympia, Wash., Jan. 27 – GS Finance Corp. priced $2.05 million of autocallable continent coupon underlier-linked notes due Oct. 30, 2023 linked to the Dow Jones industrial average, the SPDR S&P Biotech ETF or the Financial Select Sector SPDR fund, 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 monthly coupon at an annualized rate of 7.2% if each asset closes at or above its coupon trigger, 70% of its initial level, on any monthly observation date.
The notes will be called if each underlier closes at or above its initial level on any observation date after six months.
If the notes are not called and each underlier closes at or above its trigger, 70% of its initial level, the payout at maturity will be par.
If either underlier falls by more than 30%, investors will lose 1% for every 1% decline of the lesser performing underlier.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
|
| Underlying assets: | Dow Jones industrial average, the SPDR S&P Biotech ETF or the Financial Select Sector SPDR fund
|
| Amount: | $2,048,000
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| Maturity: | Oct. 30, 2023
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| Coupon: | 7.2%, payable monthly if each underlier closes at or above its coupon trigger on observation date
|
| Price: | Par
|
| Call: | At par plus coupon if each underlier closes at or above initial level on any observation date after six months
|
| Payout at maturity: | Par if each underlier closes at or above its trigger; otherwise, exposure to losses of lesser-performing underlier
|
| Initial levels: | 29,186.27 for Dow, $94.49 for biotech ETF, $30.86 for financial ETF
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| Coupon trigger/trigger buffer levels: | 70% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.25%
|
| Cusip: | 40056YCJ1
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