By Marisa Wong
Los Angeles, Aug. 6 – GS Finance Corp. priced $3.82 million of contingent income autocallable securities due July 22, 2022 linked to Chevron Corp. stock, 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 quarterly coupon at a rate of 8% per year if the stock closes at or above its 75% downside threshold level on a related quarterly determination date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the stock falls by more than 25%, in which case investors will lose 1% for every 1% decline of the stock.
Goldman, Sachs & Co. is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Chevron Corp. (Symbol: CVX)
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| Amount: | $3,816,500
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| Maturity: | July 22, 2022
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| Coupon: | 8% per year, payable each quarter that stock closes at or above its downside threshold on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock falls by more than 25%, in which case full exposure to share price decline
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| Call: | At par plus the contingent coupon if stock closes at or above its initial price on any quarterly determination date
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| Initial price: | $125.04
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| Downside threshold: | $93.78, 75% of initial price
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| Pricing date: | July 19
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| Settlement date: | July 24
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| Agent: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.675%
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| Cusip: | 36257W327
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