New York, Nov. 14 – GS Finance Corp. priced $10 million of contingent income buffered autocallable securities due Nov. 14, 2024 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.3509%, paid monthly, if the underlying ETF closes at or above its 87% downside threshold on the related observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the ETF closes at or above its initial level on any monthly observation date.
At maturity, the payout will be par unless the ETF declines by more than 13%, in which case investors will lose 1.1494% for every 1% decline beyond 13%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Contingent income buffered autocallable securities
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| Underlying fund: | SPDR S&P Biotech ETF
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| Amount: | $10 million
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| Maturity: | Nov. 14, 2024
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| Coupon: | 17.3509%, paid monthly, if the underlying ETF closes at or above its 87% downside threshold on the related observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the ETF declines by more than 13%, in which case investors will lose 1.1494% for every 1% decline beyond 13%
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| Call: | Automatically at par if the ETF closes at or above its initial level on any monthly observation date
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| Initial level: | $71.52
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| Buffer: | 13%
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| Downside leverage: | 114.94%
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| Downside threshold: | 87% of initial level
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| Strike date: | Nov. 7
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| Pricing date: | Nov. 8
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| Settlement date: | Nov. 13
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.10%
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| Cusip: | 40057X5Q4
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