By Wendy Van Sickle
Columbus, Ohio, March 30 – GS Finance Corp. priced $2.5 million of autocallable contingent coupon notes due Sept. 27, 2027 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at an annual rate of 12% if each index closes at or above its coupon barrier, 80% of its initial level, on the observation date for that month.
The notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date other starting after one year.
The payout at maturity will be par unless either index finishes below its 80% buffer level, in which case investors will lose 1% for every 1% that the least-performing index declines beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $2,504,000
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| Maturity: | Sept. 27, 2027
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| Coupon: | 12%, payable monthly if each index closes at or above 80% coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below buffer level, in which case 1% loss for every 1% that least-performing index declines beyond 20%
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| Call: | Automatically at par if each index closes at or above initial levels on any coupon determination date after one year
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| Initial levels: | 2,304.92 for S&P, 1,013.889 for Russell
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| Pricing date: | March 20
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| Settlement date: | March 25
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.15%
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| Cusip: | 40056YUF9
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