By Wendy Van Sickle
Columbus, Ohio, July 26 – GS Finance Corp. priced $1.03 million of autocallable contingent coupon equity-linked notes due Aug. 23, 2024 linked to the shares of Schlumberger NV, 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 monthly coupon at an annualized rate of 14.7% if the stock closes at or above the coupon barrier price, 74% of the initial price, on the valuation date for that period.
If the stock closes at or above its initial level on any monthly call valuation date after six months, the notes will be automatically called at par.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 74% barrier level, in which case investors will be fully exposed to decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Schlumberger NV
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| Amount: | $1.03 million
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| Maturity: | Aug. 23, 2024
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| Coupon: | 14.7% per year, payable monthly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case investors will be fully exposed to decline
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| Call: | If stock closes at or above its initial level on any monthly call valuation date after six months, at par
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| Initial share price: | $57.26
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| Coupon barrier price: | 74% of initial share price
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| Barrier level: | 74% of initial share price
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.15%
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| Cusip: | 40057TKA1
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