By William Gullotti
Buffalo, N.Y., Aug. 12 – GS Finance Corp. priced $1.54 million of autocallable contingent coupon ETF-linked notes due Sept. 12, 2023 tied to the VanEck Vectors Junior Gold Miners ETF and the VanEck Vectors Gold Miners ETF, 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 annual rate of 15.05% if each ETF closes at or above the coupon trigger level, 65% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each ETF closes at or above its initial level on any monthly call observation date after six months.
If the notes are not called and each ETF closes at or above 65% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon ETF-linked notes
|
| Underlying ETFs: | VanEck Vectors Junior Gold Miners ETF, VanEck Vectors Gold Miners ETF
|
| Amount: | $1,539,000
|
| Maturity: | Sept. 12, 2023
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| Coupon: | 15.05% annualized rate, payable monthly if each ETF closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above trigger buffer level, par plus coupon; otherwise, lose 1% for every 1% decline of laggard ETF from initial level
|
| Call: | At par plus coupon if each ETF closes at or above its initial level on any monthly call observation date after six months
|
| Initial ETF levels: | $26.28 for gold, $33.74 for junior gold
|
| Trigger buffer levels: | 65% of initial levels
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| Coupon trigger levels: | 65% of initial levels
|
| Pricing date: | Aug. 5
|
| Settlement date: | Aug. 10
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.15%
|
| Cusip: | 40057MQ77
|
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