By Sarah Lizee
Olympia, Wash., March 10 – GS Finance Corp. priced $226,000 of autocallable contingent coupon notes due June 7, 2021 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 11.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date other than the final one.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% trigger level during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $226,000
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| Maturity: | June 7, 2021
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| Coupon: | 11.5%, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below initial level and ever closes below trigger level, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | After six months, automatically at par if each index closes at or above initial levels on any coupon determination date other than the final one
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| Initial levels: | 3,329.49 for Stoxx, 1,476.431 for Russell
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| Trigger/coupon barriers: | 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.1%
|
| Cusip: | 40056YGK4
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