By Wendy Van Sickle
Columbus, Ohio, Oct. 3 – GS Finance Corp. priced $1.09 million of autocallable contingent coupon notes due Oct. 5, 2026 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9% if each index closes at or above its coupon trigger level, 75% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date after one year.
The payout at maturity will be par unless either index finishes below its trigger level, 50% of its initial level, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $1,091,000
|
| Maturity: | Oct. 5, 2026
|
| Coupon: | 9%, payable quarterly if each index closes at or above coupon trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to decline of worse-performing index
|
| Call: | Automatically at par if both indexes close at or above initial levels on any coupon determination date after one year
|
| Initial levels: | 2,991.11 for Stoxx and 1,255.666 for Russell
|
| Coupon trigger levels: | 2,243.3325 for Stoxx and 941.7495 for Russell, 75% of initial levels
|
| Trigger levels: | 50% of initial levels
|
| Pricing date: | Sept. 28
|
| Settlement date: | Sept. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.95%
|
| Cusip: | 40054KKY1
|
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