By William Gullotti
Buffalo, N.Y., July 18 – GS Finance Corp. priced $2 million of 7% autocallable buffered fixed coupon index-linked notes due July 13, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is paid semiannually.
The notes will be automatically called at par if the index closes at or above its initial level on any semiannual valuation date after one year.
If the notes are not called and the index finishes at or above its 80% buffer level, the payout at maturity will be par.
Otherwise, investors will lose 1.25% for every 1% decline beyond 20%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor | Goldman Sachs Group, Inc.
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| Issue: | Autocallable buffered fixed coupon index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $2 million
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| Maturity: | July 13, 2026
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| Coupon: | 7% per annum, payable semiannually
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| Price: | Par
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| Payout at maturity: | If the index finishes at or above buffer level, par; otherwise, 1.25% loss for each 1% decline beyond 20%
|
| Call: | Automatically at par if the index closes at or above its initial level on any semiannual valuation date after one year
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| Initial level: | 3,801.78
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| Buffer level: | 80% of initial level
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| Pricing date: | July 13
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| Settlement date: | July 18
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057MN54
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