By William Gullotti
Buffalo, N.Y., March 31 – GS Finance Corp. priced $1.76 million of 13% bearish autocallable contingent coupon index-linked notes due March 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at 13% per year if the index closes at or below its trigger level, 115% of initial level, on the relevant observation date.
The notes will be automatically called at par plus the coupon if the index closes at or below its initial level on any monthly valuation date after three months.
If the index finishes at or below trigger level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% gain of the index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish autocallable contingent coupon index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $1,757,000
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| Maturity: | March 28, 2024
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| Coupon: | 13% per year, paid monthly if the index closes at or below trigger level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If the index finishes at or below trigger level, par plus final coupon; otherwise, lose 1% for each 1% gain from initial level
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| Call: | Automatically at par plus coupon if index closes at or below initial level on any monthly valuation date after three months
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| Initial level: | 3,970.99
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| Trigger level: | 115% of initial level
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 40057R7D4
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