By William Gullotti
Buffalo, N.Y., Nov. 10 – GS Finance Corp. priced $1.6 million of callable contingent coupon equity-linked notes due April 11, 2024 linked to the shares of ON Semiconductor Corp., 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 if the stock closes at or above the coupon barrier price, 61.55% of the initial price, on the valuation date for that period. The first coupon, if payable, will pay at a rate of $37 per $1,000 principal amount. The final, if payable, will be $24.67 per note.
The notes are callable at par plus any contingent coupon otherwise due on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares finish below the 61.55% barrier level, in which case investors will be fully exposed to decline.
Goldman Sachs & Co. LLC is the agent.
| 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 stock: | ON Semiconductor Corp.
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| Amount: | $1.6 million
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| Maturity: | April 11, 2024
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| Coupon: | Payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period; first coupon will pay $37 per note with the final coupon worth $24.67
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case investors will be fully exposed to decline
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| Call: | At par plus any coupon due on any quarterly call valuation date
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| Initial share price: | $68.25
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| Coupon barrier price: | 61.55% of initial share price
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| Barrier level: | 61.55% of initial share price
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 8
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057WZR1
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