By Wendy Van Sickle
Columbus, Ohio, March 20 – GS Finance Corp. priced $1.5 million of autocallable contingent coupon notes due March 20, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes will pay a contingent coupon at an annual rate of 8.4% if the index closes at or above its barrier level, 70% of its initial level, on the observation date for that six months.
The notes will be automatically called at par if the index closes at or above its initial level on any semiannual call date after six months.
The payout at maturity will be par plus the final coupon unless the index return is less than negative 30%, in which case investors will be exposed to the decline of the index from its initial level.
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 equity-linked securities
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| Underlying index | Russell 2000 index
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| Amount: | $1.5 million
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| Maturity: | March 20, 2023
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| Coupon: | 8.4% per year, payable semiannually if index closes at or above 70% barrier on valuation date for that six months
|
| Price: | Par
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| Payout at maturity: | If index finishes at or above 70% barrier level, par; otherwise, full exposure to any losses of index
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| Call: | At par plus contingent coupon if index closes at or above initial level on any semiannual call date after six months
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| Initial level: | 1,567.618
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| Barrier level: | 1,103.6326; 70% of initial level
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.35%
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| Cusip: | 40055ASL2
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