By Wendy Van Sickle
Columbus, Ohio, Nov. 23 – GS Finance Corp. priced $1.46 million of contingent coupon autocallable ETF-linked notes due Nov. 21, 2022 tied to the VanEck Vectors Gold Miners ETF and the SPDR Gold Trust, 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 11.45% if the ETF closes above 70% of its initial level on the related observation date.
The notes will be automatically called at par if the ETF closes at or above its initial level on any observation date after three months.
If the ETF finishes at or above 70% of its initial level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable ETF-linked notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,462,000
|
| Maturity: | Nov. 21, 2022
|
| Coupon: | 11.45%, payable monthly if ETF closes above 70% of initial level on observation date
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes at or above 70% of its initial level, par; otherwise full exposure to loss
|
| Call: | At par if ETF closes at or above its initial level on any observation date after three months
|
| Initial level: | $38.01
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 18
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.795%
|
| Cusip: | 40057EMY0
|
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