By Wendy Van Sickle
Columbus, Ohio, Oct. 22 – GS Finance Corp. priced $2.2 million of autocallable contingent coupon equity-linked notes due Oct. 28, 2024 linked to the stocks of Apple Inc., Microsoft Corp. and Roku, Inc., 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 9.5% if each stock closes above its coupon barrier price, 60% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to its coupon barrier, the payout at maturity will be par.
If the worst performer finishes at or above the 60% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the worst performer from its initial share price.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Apple Inc., Microsoft Corp., Roku, Inc.
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| Amount: | $2,195,000
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| Maturity: | Oct. 28, 2024
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| Coupon: | 9.5% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above final barrier, par; otherwise, lose 1% for every 1% decline of the worst performer from its initial share price
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any quarterly call observation date
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| Initial share prices: | $148.76 for Apple, $308.23 for Microsoft, $344.45 for Roku
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| Coupon barrier prices: | 60% of initial levels
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| Final barrier prices: | 60% of initial levels
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| Pricing date: | Oct. 19
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| Settlement date: | Oct. 22
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057JTH9
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