By William Gullotti
Buffalo, N.Y., March 18 – GS Finance Corp. priced $5.6 million of autocallable contingent coupon index-linked notes due March 11, 2027 tied to the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, 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 at an annual rate of 10% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date.
If the notes are not called and each index finishes at or above its coupon trigger level, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon trigger level but at or above its 70% trigger buffer level, the payout will be par. Otherwise, investors will lose 1.4286% for each 1% decline of the worst performer beyond 30%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $5.6 million
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| Maturity: | March 11, 2027
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| Coupon: | 10% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon trigger level, par plus final coupon; if worst performer finishes below coupon trigger but at or above trigger buffer level, par; otherwise, lose 1.4286% for each 1% decline of worst performer beyond 30%
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| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date
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| Initial index levels: | 5,157.36 for S&P, 2,084.74 for Russell, 4,974.22 for Stoxx
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| Coupon trigger levels: | 75% of initial levels
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | March 7
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| Settlement date: | March 12
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057YP23
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