By Wendy Van Sickle
Columbus, Ohio, July 19 – GS Finance Corp. priced $2.2 million of callable contingent coupon equity-linked notes due Dec. 19, 2023 linked to the common stock of ON Semiconductor Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 15% per year for the first quarter and 10% for the second if the stock closes at or above the coupon trigger price, 67.3% of the initial share price, on the observation date for that quarter.
The notes are callable at par on the October payment date.
If the final share price is greater than or equal to the trigger buffer price, 67.3% of the initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the stock’s decline.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Callable contingent coupon equity-linked notes
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| Underlying indexes: | ON Semiconductor Corp.
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| Amount: | $2.2 million
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| Maturity: | Dec. 19, 2023
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| Coupon: | Payable quarterly at annual rate of 15% for first quarter and 10% for second quarter if stock closes at or above the coupon trigger price, 67.3% of the initial share price, on the observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than trigger buffer price, in which case full exposure to stock’s decline
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| Call option: | At par on October payment date
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| Initial share price: | $98.63
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| Coupon trigger price: | 67.3% of initial share price
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| Trigger buffer price: | 67.3% of initial share price
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| Pricing date: | July 12
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| Settlement date: | July 17
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057TK86
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