By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – GS Finance Corp. priced $6.24 million of 0% bearish autocallable absolute return notes due Feb. 25, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If on any day during the life of the notes the index closes at less than 77.95% of the initial level, the notes will be automatically called at par.
If the notes are not called and the index closes at or above its initial level, the payout will be par.
If the notes are not called and the index falls by no more than 22.05%, the payout will be par plus the absolute value of the index return. If the index declines by more than 22.05%, investors will receive par.
The underwriter is Goldman Sachs & Co. LLC. JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish autocallable absolute return notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $6,243,000
|
| Maturity: | Feb. 25, 2021
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if the notes are not called and index closes at or above initial level or falls more than 22.05%; otherwise, par plus the absolute return of the index if the index declines but by no more than 22.05%
|
| Call: | Automatically at par if on any day during life of the notes the index closes at less than 77.95% of initial level
|
| Initial level: | 2,847.11
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 30
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Agent: | JPMorgan
|
| Fees: | 1.25%
|
| Cusip: | 40056X3Y0
|
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