By Wendy Van Sickle
Columbus, Ohio, May 16 – GS Finance Corp. priced $4.37 million of 0% trigger autocallable contingent yield notes due May 16, 2028 linked to the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7.2% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date beginning in May 2019.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the downside threshold level, 50% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing index from its initial level.
Goldman Sachs & Co. is the agent with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | MSCI Emerging Markets and Russell 2000
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| Amount: | $4,369,080
|
| Maturity: | May 16, 2028
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| Coupon: | 7.2%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
|
| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case will lose 1% for each 1% decline of the worse performing index from initial level
|
| Initial levels: | 1,164.49 for Emerging Markets, 1,606.792 for Russell
|
| Coupon barriers: | 815.143 for Emerging Markets, 1,124.754 for Russell, 70% of initial levels
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| Thresholds: | 582.245 for Emerging Markets, 803.396 for Russell 50% of initial levels
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| Pricing date: | May 11
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| Settlement date: | May 16
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| Agent: | Goldman Sachs & Co. with UBS Financial Services Inc. as selling agent
|
| Fees: | 3.95%
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| Cusip: | 36254G531
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