By William Gullotti
Buffalo, N.Y., June 29 – GS Finance Corp. priced $2 million of autocallable contingent coupon basket-linked notes due June 26, 2025 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the stocks of Chevron Corp. and Exxon Mobil Corp.
The notes will pay a contingent quarterly coupon at an annual rate of 10.05% if the basket closes at or above its coupon barrier level, 75% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if the basket closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the final level of the basket is greater than or equal to the 75% trigger buffer, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the basket from its initial level.
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: | Chevron Corp., Exxon Mobil Corp.; equal weights
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| Amount: | $2 million
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| Maturity: | June 26, 2025
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| Coupon: | 10.05% annual rate; payable quarterly if closing level of the basket 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: | Par plus final coupon if the basket finishes at or above trigger buffer; otherwise, full exposure to decline of basket from initial level
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| Call: | At par plus coupon if basket closes at or above initial level on any quarterly observation date
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| Initial levels: | $151.35 for Chevron, $102.40 for Exxon Mobil
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| Coupon barrier level: | 75% of initial level
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| Trigger buffer level: | 75% of initial level
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| Pricing date: | June 23
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| Settlement date: | June 28
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.45%
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| Cusip: | 40057TE42
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