By Sarah Lizee
Olympia, Wash., Sept. 18 – GS Finance Corp. priced $9.55 million of contingent income autocallable securities due Sept. 16, 2022 linked to the common stock of Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Walt Disney shares close at or above the downside threshold level, 80% of the initial share price, on a monthly determination date, the notes will pay a contingent payment that month at an annualized rate of 8.5%.
After six months, the notes will be called at par of $10 plus the contingent coupon if Walt Disney shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Contingent income autocallable securities
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Underlying stock: | Walt Disney Co.
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Amount: | $9,545,820
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Maturity: | Sept. 16, 2022
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Coupon: | 8.5% per year, payable monthly if Walt Disney shares close at or above downside threshold level on determination date for that month
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Price: | Par of $10.00
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Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
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Call: | After six months, at par plus contingent coupon if Walt Disney shares close at or above initial share price on any quarterly determination date other than final determination date
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Initial share price: | $138.02
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Downside threshold: | $110.416, 80% of initial share price
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Pricing date: | Sept. 13
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Settlement date: | Sept. 18
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Underwriter: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.675%
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Cusip: | 36258L460
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