By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – GS Finance Corp. priced $1 million of callable contingent coupon equity-linked notes due Oct. 5, 2023 linked to the common stock of Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 12.3% if the stock closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly potential redemption date.
If the notes are not redeemed early, the payout will be par plus the final coupon unless the index falls by more than 40%, in which case investors will be fully exposed to the loss.
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 stocks: | Chevron Corp.
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Amount: | $1 million
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Maturity: | Oct. 5, 2023
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Contingent coupon: | 12.3% per year, payable quarterly if the stock closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus final coupon unless index falls by more than 40%, in which case full exposure to loss
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Call option: | Par plus any coupon due on any quarterly potential redemption date
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Initial levels: | $143.67
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Coupon barrier level: | 60% of initial level
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Barrier level: | 60% of initial level
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1%
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Cusip: | 40057NH91
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