New York, March 25 – GS Finance Corp. priced $10 million of contingent income buffered autocallable securities due March 24, 2025 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.3005%, paid monthly, if the underlying ETF closes at or above its 80% buffer level on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the ETF closes at or above its initial level on any monthly determination date.
At maturity, the payout will be par unless the ETF finishes below its buffer level, in which case investors will lose 1.25% for each 1% that the ETF declines beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income buffered autocallable securities
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| Underlying fund: | SPDR S&P Biotech ETF
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| Amount: | $10 million
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| Maturity: | March 24, 2025
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| Coupon: | 14.3005%, paid monthly, if the underlying ETF closes at or above its 80% buffer level on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below its buffer level, in which case investors will lose 1.25% for each 1% that the ETF declines beyond 20%
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| Call: | Automatically at par if the ETF closes at or above its initial level on any monthly determination date
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| Initial level: | $94.71
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| Buffer: | 20%
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| Downside leverage: | 125%
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| Strike date: | March 15
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| Pricing date: | March 18
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| Settlement date: | March 21
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.10%
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| Cusip: | 40057YSA2
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