By Kiku Steinfeld
Chicago, Aug. 30 – GS Finance Corp. priced $3.84 million of autocallable contingent coupon equity-linked securities due Aug. 8, 2022 linked to the common stock of Uber Technologies, 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 10.7% if the stock closes at or above the coupon barrier price, 68% of the initial price, on the valuation date for that period.
Beginning in December 2021, the notes will be automatically called at par plus the contingent coupon if the stock closes at or above the initial share price on any monthly valuation date.
If the notes are not called and the final share price is greater than or equal to the 68% final barrier price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the stock price.
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: | Autocallable contingent coupon equity-linked securities
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Underlying stock: | Uber Technologies, Inc.
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Amount: | $3,835,000
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Maturity: | Aug. 8, 2022
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Coupon: | 10.7% annual rate, payable monthly if stock closes above coupon barrier level on valuation date for that month
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Price: | Par
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Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par; otherwise, full exposure to stock’s decline
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Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any monthly valuation date beginning in December 2021
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Initial share price: | $50.12
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Coupon barrier level: | 68% of initial level
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Final barrier level: | 68% of initial level
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.15%
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Cusip: | 40057HP87
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