By Taylor Fox
New York, Nov. 18 – GS Finance Corp. priced $505,000 of autocallable contingent coupon notes due May 9, 2022 linked to the lowest performing of the S&P 500 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.
The notes will pay a contingent quarterly coupon if each index closes at or above its 70% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 5%.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par plus any coupon due unless either index finishes below 55% of its initial level, in which case investors will be fully exposed to the decline of the least performing index.
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: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $505,000
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| Maturity: | May 9, 2022
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| Contingent coupon: | 5% annual rate, payable quarterly if each index closes at or above coupon trigger level on the determination date for that period
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless either index finishes below trigger buffer level, in which case investors will be fully exposed to the decline of the least performing index
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after six months
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| Initial index levels: | 1,538.479 for Russell, 3,269.96 for S&P
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| Coupon trigger levels: | 70% of initial levels
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| Trigger buffer levels: | 55% of initial levels
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.875%
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| Cusip: | 40057ELC9
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