By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – GS Finance Corp. priced $5.3 million of contingent income autocallable securities due Sept. 19, 2024 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon of 10.7% a year if the stock closes above the 70% downside threshold level on the related determination date.
The securities will be called automatically starting Dec. 15 if the price of the underlying stock is greater than or equal to its initial price on any quarterly call observation date.
At maturity the payout will be par unless the stock closes below its downside 70% threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC 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: | Wells Fargo & Co.
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| Amount: | $5,302,000
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| Maturity: | Sept. 19, 2024
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| Coupon: | 10.7% annual rate, payable quarterly if stock closes above downside threshold level on related determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
|
| Call: | Automatically starting Dec. 15 if the price of the underlying stock is greater than or equal to its initial price on any quarterly call observation date
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| Initial level: | $42.95
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| Downside threshold: | $30.065, 70% of initial level
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
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| Cusip: | 40057WA49
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