By Marisa Wong
Morgantown, W.Va., April 1 – GS Finance Corp. priced $1.16 million of callable contingent coupon notes due March 17, 2025 linked to the iShares MSCI Emerging Markets exchange-traded fund, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon of $7.667 per $1,000 principal amount if each underlier closes at or above its 65% trigger level on the observation date for that month.
Beginning in September, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless any underlier finishes below its 65% trigger level, in which case investors will be fully exposed to the decline of the least performer.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | iShares MSCI Emerging Markets ETF, Russell 2000 and S&P 500
|
| Amount: | $1,155,000
|
| Maturity: | March 17, 2025
|
| Coupon: | $7.667 per note for each month that each underlier closes at or above trigger level on observation date for that month
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless any underlier finishes below trigger level, in which case full exposure to decline of the least performing underlier
|
| Call option: | At par on any coupon payment date after six months
|
| Initial values: | $42.64 for ETF, 1,549.835 for Russell and 2,791.52 for S&P
|
| Trigger level: | 65% of initial value
|
| Pricing date: | March 12
|
| Settlement date: | March 15
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.125%
|
| Cusip: | 40056F3R4
|
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