By Kiku Steinfeld
Chicago, Aug. 3 – GS Finance Corp. priced $1 million of autocallable contingent coupon equity-linked notes due July 20, 2022 linked to Freeport-McMoRan Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the barrier level, 79% of the initial price, on the determination date for that quarter, the notes will pay a contingent quarterly coupon at an annual rate of 10%.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial stock price on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below 79% of its initial stock price, in which case investors will lose 1.2658% for each 1% decline of the stock beyond 21%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | Freeport-McMoRan Inc.
|
| Amount: | $1 million
|
| Maturity: | July 20, 2022
|
| Coupon: | 10% per year, payable quarterly if stock closes at or above buffer level on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below 79% of its initial level, in which case investors will lose 1.2658% for each 1% decline of the stock beyond 21%
|
| Call: | At par plus contingent coupon if stock closes at or above initial stock price on any quarterly determination date
|
| Initial stock price: | $34.39
|
| Coupon barrier level: | 79% of initial stock price
|
| Buffer level: | 79% of initial stock price
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| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.95%
|
| Cusip: | 40057HWR7
|
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