By Sarah Lizee
Olympia, Wash., May 20 – GS Finance Corp. priced $953,000 of autocallable contingent coupon notes due May 22, 2030 linked to the worst performing of the Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 5.05% if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly coupon determination date after one year.
If the notes are not called, the payout will be par if all the indexes close above their 60% trigger buffer levels.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
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 index and Dow Jones industrial average
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| Amount: | $953,000
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| Maturity: | May 22, 2030
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| Coupon: | 5.05%, payable quarterly if each index closes at or above coupon barrier on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below 60% of initial level, in which case full exposure to losses of worst performing index
|
| Call: | Automatically at par if each index closes at or above initial levels on any coupon determination date after one year
|
| Initial levels: | 1,256.992 for Russell, 23,685.42 for Dow
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| Trigger buffer levels: | 60% of initial levels
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| Coupon barrier levels: | 60% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 20
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.95%
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| Cusip: | 40057C2E0
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