By Wendy Van Sickle
Columbus, Ohio, March 22 – GS Finance Corp. priced $1.2 million of autocallable contingent coupon notes due March 22, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a quarterly contingent coupon at an annual rate of 8.25% if the index closes at or above its trigger level, 71% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if the index closes at or above its initial level on any coupon determination date after one year.
The payout at maturity will be par plus the final coupon, if any, unless the index finishes below 75% of its initial level, in which case investors will be fully exposed to any loss in the index.
Goldman Sachs & Co. 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 index: | Russell 2000
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| Amount: | $1.2 million
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| Maturity: | March 22, 2022
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| Coupon: | 8.25% per year, payable quarterly if index closes at or above trigger level on determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus coupon, if any, unless index finishes below 75% of initial level, in which case full exposure to loss
|
| Call: | Automatically at par if index closes at or above initial level on any coupon determination date after one year
|
| Initial index levels: | 1,391.524
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| Trigger level: | 71% of initial level
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| Pricing date: | March 17
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| Settlement date: | March 22
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| Agent: | Goldman Sachs & Co.
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| Fees: | 0.35%
|
| Cusip: | 40054KYM2
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