By Wendy Van Sickle
Columbus, Ohio, March 21 – GS Finance Corp. priced $3.63 million of contingent income autocallable securities due March 22, 2018 linked to the class A common stock of 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 8.15% if the shares close at or above the 80% downside threshold level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if Facebook shares close at or above the initial price on any of the first three coupon determination dates.
The payout at maturity will be par of $10 plus the final coupon unless the shares finish below the downside threshold level, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is a distributor.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Facebook, Inc.
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| Amount: | $3,628,950
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| Maturity: | March 22, 2018
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| Coupon: | 8.15% per year, payable quarterly if shares close at or above downside threshold level on quarterly determination date
|
| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any of first three quarterly determination dates
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| Initial share price: | $139.84
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| Downside threshold: | $111.872, 80% of initial share price
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| Pricing date: | March 17
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| Settlement date: | March 22
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| Agent: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.85%
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| Cusip: | 36251V358
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