By Wendy Van Sickle
Columbus, Ohio, March 28 – GS Finance Corp. priced $1.4 million of autocallable continent coupon notes due March 30, 2020 linked to Bank of America Corp. common stock, 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 coupon at an annual rate of 10.15% for each quarter that the stock closes at or above 80% of its initial price on the determination date that quarter.
The notes will be called at par if the stock closes at or above its initial price on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Bank of America
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| Amount: | $1.4 million
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| Maturity: | March 30, 2020
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| Coupon: | 10.15% per year, payable quarterly if stock closes at or above 80% barrier on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above 80% barrier level, par; otherwise, full exposure to any losses
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any determination date other than the final date
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| Initial level: | $30.55
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| Barrier level: | $24.44, 80% of initial level
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.275%
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| Cusip: | 40055AT72
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