By William Gullotti
Buffalo, N.Y., July 20 – GS Finance Corp. priced $1.6 million of 0% autocallable ETF-linked notes due June 4, 2024 tied to the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Nov. 29, if each ETF closes at or above its initial level on any quarterly call observation date, the notes will be called at par plus an 19% annualized call premium.
If the notes are not called and each ETF finishes at or above its initial level, the payout will be par plus 57%.
If the worst performer finishes below its initial level but above 70% of its initial level, the payout will be par.
If any ETF falls by more than 30%, investors will be exposed to the decline of the lesser-performing ETF from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable ETF-linked notes
|
| Underlying funds: | iShares Silver Trust, VanEck Vectors Gold Miners ETF
|
| Amount: | $1,595,000
|
| Maturity: | June 4, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and each ETF finishes at or above its initial level, par plus 57%; if worst performer finishes below its initial level but above 70% of its initial level, par; if any ETF falls by more than 30%, investors will be exposed to the decline of the lesser-performing ETF from its initial level
|
| Call: | Beginning Nov. 29, if each ETF closes at or above initial level on any quarterly observation date, notes will be called at par plus an 19% annualized call premium
|
| Initial ETF levels: | $25.85 for Silver, $39.21 for Gold
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | May 27
|
| Settlement date: | June 2
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.67%
|
| Cusip: | 40057HEF3
|
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