By Taylor Fox
New York, Sept. 25 – GS Finance Corp. priced $1.5 million of autocallable contingent coupon ETF-linked notes due March 15, 2022 linked to the worst performing of the iShares Silver Trust and the SPDR Gold Trust, 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 of 8% per annum if each fund closes at or above its 60% coupon trigger level on the observation date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any fund closes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing fund from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying ETFs: | iShares Silver Trust or the SPDR Gold Trust
|
| Amount: | $1,500,000
|
| Maturity: | March 15, 2022
|
| Contingent coupon: | 8% annualized, payable quarterly if each fund closes at or above 60% coupon trigger level on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund closes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing fund from its initial level
|
| Call: | Automatically at par if each fund closes at or above initial level on any quarterly observation date
|
| Initial fund levels: | $24.86 for iShares and $182.46 for SPDR
|
| Coupon trigger levels: | 60% of initial levels
|
| Agent: | Goldman Sachs & Co. LLC
|
| Pricing date: | Sept. 10
|
| Settlement date: | Sept. 15
|
| Fees: | 1.65%
|
| Cusip: | 40057CV57
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