By William Gullotti
Buffalo, N.Y., Aug. 11 – GS Finance Corp. priced $2.5 million of autocallable contingent coupon equity-linked securities due Aug. 2, 2023 linked to the common stock of Signature Bank, 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 at an annual rate of 9% if the stock closes above 62.15% of the initial price on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any quarterly valuation date.
If the notes are not called and the final share price is greater than or equal to the 62.15% final barrier price, the payout at maturity will be par plus any coupons due.
Otherwise, investors will be fully exposed to the decline of the stock price.
Goldman Sachs & Co. LLC is the agent with JP Morgan as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Signature Bank
|
| Amount: | $2,495,000
|
| Maturity: | Aug. 2, 2023
|
| Coupon: | 9% annual rate, payable quarter if stock closes above coupon barrier level on related observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus any coupons due, including previously unpaid coupons; otherwise, full exposure to decline in the stock
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly valuation date
|
| Initial share price: | $231.39
|
| Coupon barrier level: | 62.15% of initial level
|
| Final barrier level: | 62.15% of initial level
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 2
|
| Agents: | Goldman Sachs & Co. LLC with JP Morgan as placement agent
|
| Fees: | 1.5%
|
| Cusip: | 40057J2L9
|
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