New York, April 5 – GS Finance Corp. priced $8.02 million of contingent income autocallable securities due April 1, 2027 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.7%, payable quarterly if the shares close at or above 70% of their initial level on the related observation date.
The securities will be called automatically starting June 28 if the price of the underlying stock is greater than or equal to its initial price.
At maturity the payout will be par unless the stock closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Citigroup Inc.
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| Amount: | $8,019,000
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| Maturity: | April 1, 2027
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| Coupon: | 10.7%, payable quarterly if shares close at or above downside threshold on observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting June 28 if the price of the underlying stock is greater than or equal to its initial price
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| Initial level: | $63.24
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| Downside threshold: | $44.268, 70% of initial level
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
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| Cusip: | 40057YTN3
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