By William Gullotti
Buffalo, N.Y., April 22 – GS Finance Corp. priced $4.58 million of 0% trigger step securities due April 19, 2027 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the index’s return and 28.8%.
Investors will receive par if the index falls by up to 25% and will be fully exposed to all losses if the index finishes below the 75% threshold level.
Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger step securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $4,581,910
|
| Maturity: | April 19, 2027
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes at or above the initial level, par plus the greater of the index’s return and 28.8%; par if the index falls by up to 25%; full exposure to losses if the index finishes below the 75% threshold level
|
| Initial index level: | 4,392.59
|
| Threshold level: | 3,294.4425; 75% of initial level
|
| Strike date: | April 14
|
| Pricing date: | April 18
|
| Settlement date: | April 21
|
| Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 3.5%
|
| Cusip: | 36264H503
|
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