By Taylor Fox
New York, Sept. 14 – GS Finance Corp. priced $2.9 million of autocallable contingent coupon equity-linked notes due Aug. 31, 2023 linked to the worst performing of the common stock of Amazon.com, Inc. and the American Depositary Shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If both stocks close at or above the barrier level, 60% of their initial prices, the notes will pay a contingent quarterly coupon of a 10.6% annual rate.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial stock price on any determination date after six months.
The payout at maturity will be par plus the coupon unless the worst performing stock finishes below 60% of its initial price, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stocks: | Amazon.com, Inc. and Alibaba Group Holding Ltd.
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| Amount: | $2,903,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 10.6% per year, payable quarterly if both stocks close at or above barrier level on the quarterly valuation date
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon unless either stock finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of worst performer
|
| Call: | At par plus contingent coupon if stock closes at or above initial stock price on any quarterly determination date after six months
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| Initial stock price: | $3,400 for Amazon and $284.17 for Alibaba
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| Barrier levels: | 60% of initial stock price
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 31
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.8%
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| Cusip: | 40057CPD7
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