By Taylor Fox
New York, March 26 – GS Finance Corp. priced $2.21 million of autocallable contingent coupon equity-linked securities due March 19, 2026 linked to the stocks of Alphabet Inc., Amazon.com, Inc., Netflix, Inc. and Facebook, Inc., 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 an annual rate of 11.4% if each stock closes at or above the barrier price, 60% of the initial price, on the determination date for that period.
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 after six months.
If the notes are not called and each stock finishes at or above its barrier price, 60% of its initial level, the payout at maturity will be par plus the contingent coupon.
If the notes are not called and the final share price of each stock is greater than or equal to its final barrier price, 60% of its initial level, the payout at maturity will be par. 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Alphabet Inc., Amazon.com, Inc., Netflix, Inc. and Facebook, Inc.
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| Amount: | $2,212,000
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| Maturity: | March 19, 2026
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| Coupon: | 11.4% annualized rate if each stock closes at or above the barrier price, 60% of the initial price, on the quarterly determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if each stock closes at or above 60% of its initial share price; otherwise, full exposure to decline of least performing stock
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above its initial level on any quarterly call observation date after six months
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| Initial share prices: | $3,089.49 for Amazon, $518.02 for Netflix, $268.4 for Facebook and $2,061.92 for Alphabet
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| Coupon barrier prices: | 60% of initial levels
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| Final barrier prices: | 60% of initial levels
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| Pricing date: | March 12
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| Settlement date: | March 17
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.35%
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| Cusip: | 40057FQC1
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