By Wendy Van Sickle
Columbus, Ohio, April 22 – GS Finance Corp. priced $1.97 million of autocallable contingent coupon notes due April 7, 2028 linked to the lowest performing of the S&P 500 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon if each asset closes at or above its 80% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 8%.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par plus any coupon due unless either asset finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing asset.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | S&P 500 index and the iShares MSCI Emerging Markets ETF
|
| Amount: | $1,969,000
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| Maturity: | April 7, 2028
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| Contingent coupon: | 8% annual rate, payable quarterly if each asset closes at or above coupon trigger level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless either asset finishes below trigger buffer level, in which case investors will be fully exposed to the decline of the least performing asset
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date after one year
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| Initial asset levels: | 3,972.89 for S&P and $53.34 for Emerging Markets
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| Coupon trigger levels: | 80% of initial levels
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057FWP5
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