By Susanna Moon
Chicago, May 8 – GS Finance Corp. priced $1.49 million of 0% step down trigger autocallable notes due April 28, 2023 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 9.75% if each index closes at or above its initial level on any call observation date after one year.
If each index finishes at or above 70% downside threshold, the payout at maturity will be $14.875 for each $10.00 principal amount.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $1,487,500
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| Maturity: | April 28, 2023
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus 48.75% unless either index falls by more than 30%, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus 9.75% per year if each index closes at or above its initial level on any annual review date beginning May 1, 2019
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| Initial levels: | 1,557.895 for Russell and 2,666.94 for S&P
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| Downside thresholds: | 70% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 30
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| Agent: | Goldman Sachs & Co. LLC with UBS Financial Services Inc.
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| Fees: | 0.3%
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| Cusip: | 36254G465
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