By Wendy Van Sickle
Columbus, Ohio, March 27 – GS Finance Corp. priced $4 million of callable contingent coupon underlier-linked notes due June 23, 2022 linked to the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 34.5% if each underlier closes at or above 68% of its initial level on every day that period.
The notes are callable at par plus any coupon on any coupon payment date after six months.
If the notes are not redeemed early, the payout at maturity will be par plus any coupon unless any underlier finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the least performing underlier.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon underlier-linked notes
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| Underlying underliers: | Russell 2000 index, Euro Stoxx 50 index and iShares MSCI EAFE ETF
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| Amount: | $4 million
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| Maturity: | June 23, 2022
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| Coupon: | 34.5% annualized, payable each quarter that each underlier closes at or above trigger level on every day that period
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| Price: | Par
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| Payout at maturity: | Par plus coupon if any, unless any underlier finishes below trigger level, in which case full exposure to loss of least performing underlier
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| Call option: | At par plus any coupon on any coupon payment date after six months
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| Initial index levels: | 1,058.749 for Russell, 2,409.39 for S&P, and $47.65 for ETF
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| Coupon trigger levels: | 68% of initial levels
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| Trigger buffer levels: | 65% of initial levels
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| Pricing date: | March 19
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| Settlement date: | March 24
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.425%
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| Cusip: | 40056YU36
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