By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – GS Finance Corp. priced $20.52 million of contingent income autocallable securities due Jan. 25, 2024 linked to the common stock of Citigroup 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 10% if the stock closes at or above the 70% downside threshold on the related determination date.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial price on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% share price decline.
Goldman Sachs & Co. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Citigroup Inc.
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| Amount: | $20,520,120
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| Maturity: | Jan. 25, 2024
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| Coupon: | 10% annual rate, payable quarterly if stock closes at or above downside threshold level on determination date for that period
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, full exposure to share price decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly determination date
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| Initial share price: | $61.33
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| Downside threshold: | $42.931, 70% of initial price
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
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| Agent: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.675%
|
| Cusip: | 36259U485
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