By Kiku Steinfeld
Chicago, March 11 – GS Finance Corp. priced $906,000 of callable contingent coupon equity-linked notes due Sept. 19, 2023 linked to the common stock of Airbnb, Inc., 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 60% 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 after one year.
The payout at maturity will be par if the stock finishes at or above 60% of its initial level. Otherwise, investors will receive par plus the return.
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: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Airbnb, Inc.
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| Amount: | $906,000
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| Maturity: | Sept. 19, 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 60% 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 after one year
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| Initial stock level: | $163.30
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| Coupon trigger level: | 60% of initial level
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| Trigger buffer level: | 60% of initial level
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 17
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 40057JK54
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