Chicago, Dec. 4 – GS Finance Corp. priced $1.68 million of autocallable contingent coupon notes due April 2, 2026 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at a rate of 5.3% per year if each index closes at or above 85% of its initial level on the observation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any monthly call observation date after one year.
The payout at maturity will be par unless any asset closes below 85% of its initial level, in which case investors will lose 1% for each 1% decline of the worst performer beyond the 15% buffer.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1,684,000
|
| Maturity: | April 2, 2026
|
| Coupon: | 5.3% per year; payable each month that each index closes at or above 85% of its initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below 85% of initial level, in which case 1% loss for each 1% decline of worst performer beyond 15% buffer
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly call observation date after one year
|
| Initial index levels: | 3,974.54 for S&P 500 and 2,221.482 for Russell
|
| Coupon trigger levels: | 85% of initial levels
|
| Buffer levels: | 85% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.85%
|
| Cusip: | 40057FTM6
|
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