By Kiku Steinfeld
Chicago, July 10 – GS Finance Corp. priced $525,000 of callable contingent coupon equity-linked notes due Nov. 16, 2023 linked to the common stock of Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 10% if the stock closes at or above 70.45% of its initial level on the related observation date.
The notes are callable at par plus any coupon due on any quarterly coupon payment date.
The payout at maturity will be par if the stock finishes at or above 70.45% of its initial level. Otherwise, investors will be exposed to the stock’s decline from its initial share price.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Exxon Mobil Corp.
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| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Expedia Group, Inc.
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| Amount: | $525,000
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| Maturity: | Nov. 16, 2023
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| Coupon: | 10% per year, payable each quarter that stock closes at or above coupon trigger level on related observation date
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| Price: | Par
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| Payout at maturity: | Par if the stock finishes at or above 70.45% of its initial level; otherwise, investors will lose 1% for each 1% decline in the stock
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| Call option: | At par plus any coupon due on any quarterly coupon payment date
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| Initial stock level: | $117.80
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| Coupon trigger level: | 70.45% of initial level
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| Trigger buffer level: | 70.45% of initial level
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.75%
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| Cusip: | 40057PPS5
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