By Kiku Steinfeld
Chicago, Sept. 13 – GS Finance Corp. priced $2.93 million of callable contingent coupon equity-linked notes due Sept. 6, 2023 linked to the shares of Norwegian Cruise Line Holdings Ltd., according to a 424B2 filing with the Notes and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 14% if the stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes are callable at par plus any contingent coupon on any quarterly call valuation date starting in February 2022.
If the notes are not called, the payout at maturity will be par unless the stock finishes below the 70% buffer level, in which case investors will be fully exposed to its decline beyond 30%.
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: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Norwegian Cruise Line Holdings Ltd.
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| Amount: | $2,928,000
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| Maturity: | Sept. 6, 2023
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| Coupon: | 14% per year, payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below buffer level, in which case investors will be fully exposed to its decline beyond buffer level
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| Call: | At par plus any contingent coupon on any quarterly call valuation date starting in February 2022
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| Initial share price: | $25.84
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| Coupon barrier price: | 70% of initial share price
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| Buffer level: | 70% of initial share price
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.56%
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| Cusip: | 40057JDE3
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