By Wendy Van Sickle
Columbus, Ohio, March 28 – GS Finance Corp. priced $7.5 million of contingent income autocallable securities due March 26, 2021 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.
If the shares close at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 10.4%.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above their initial level on any of the first 11 call observation dates.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon.
Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Goldman Sachs & Co. 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: | Facebook, Inc.
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| Amount: | $7,504,480
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| Maturity: | March 26, 2021
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| Coupon: | 10.4% per year, payable quarterly if shares close at or above downside threshold level on determination date for that quarter
|
| 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
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| Call: | At par plus contingent coupon if shares close at or above initial level on any of first 11 call observation dates
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| Initial share price: | $159.39
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| Downside threshold: | $127.512, 80% of initial share price
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Agent: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.675%
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| Cusip: | 36254G309
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