By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – GS Finance Corp. priced $161,000 of autocallable continent coupon ETF-linked notes due Oct. 22, 2021 linked to the VanEck Vectors Gold Miners ETF and the iShares Silver trust, 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 annualized rate of 10% if each asset closes at or above its coupon trigger, 85% of its initial level, on any quarterly observation date.
The notes will be called if each underlier closes at or above its initial level on any observation date.
If the notes are not called and each underlier closes at or above its buffer level, 85% of its initial level, the payout at maturity will be par.
If either underlier falls by more than 15%, investors will lose 1% for every 1% decline of the lesser performing underlier beyond 15%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying assets: | VanEck Vectors Gold Miners ETF and iShares Silver trust
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| Amount: | $161,000
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| Maturity: | Oct. 22, 2021
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| Coupon: | 10%, payable quarterly if each underlier closes at or above its coupon trigger on observation date
|
| Price: | Par
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| Call: | At par plus coupon if each underlier closes at or above initial level on any observation date
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| Payout at maturity: | Par if each underlier closes at or above its buffer level; otherwise, exposure to losses of lesser-performing underlier beyond buffer
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| Initial levels: | $40.30 for gold and $22.59 for silver
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| Coupon trigger/buffer levels: | 85% of initial levels
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| Pricing date: | Oct. 15
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| Settlement date: | Oct. 20
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.45%
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| Cusip: | 40057EDX2
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