By Susanna Moon
Chicago, June 1 – GS Finance Corp. priced $9.8 million of autocallable contingent coupon notes due May 23, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if each index closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any coupon determination dates after two years.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. 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 index: | S&P 500 index and Russell 2000 index
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| Amount: | $9.8 million
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| Maturity: | May 23, 2024
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| Coupon: | 8.1% per year, payable monthly if each index closes at or above 70% coupon barrier on determination date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below 60% trigger, in which case full exposure to losses of worse performing index
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| Call: | At par if index closes at or above its initial level on any interest payment dates from May 2019 to February 2024
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| Initial level: | 1,377.139 for Russell, 2,394.02 for S&P
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| Coupon barriers: | 70% of initial levels
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| Trigger levels: | 60% of initial levels
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| Pricing date: | May 22
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| Settlement date: | May 25
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 0.475%
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| Cusip: | 40054LDA9
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