By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – GS Finance Corp. priced $1.2 million of autocallable contingent coupon equity-linked securities due July 22, 2024 linked to the lesser performing of the common stocks of MGM Resorts International and Wynn Resorts, Ltd., 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 yearly rate of 11.75% if each stock closes above the coupon barrier price, 65% of the initial price, on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to the trigger price, 65% of its initial level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock.
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: | MGM Resorts International and Wynn Resorts, Ltd.
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| Amount: | $1.2 million
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| Maturity: | July 22, 2024
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| Coupon: | 11.75% per year, payable quarterly if closing price of each stock is greater than or equal to 65% of initial share price on any quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock closes at or above 65% of its initial share price; otherwise, full exposure to decline of least performing stock
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| Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly observation date
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| Initial share prices: | $39.97 for MGM and $110.71 for Wynn Resorts
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| Coupon barrier/trigger prices: | 65% of initial share prices
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| Pricing date: | July 14
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| Settlement date: | July 19
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.45%
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| Cusip: | 40057HVQ0
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