By Wendy Van Sickle
Columbus, Ohio, March 26 – GS Finance Corp. priced $1.3 million of contingent coupon equity-linked notes due March 17, 2023 linked to Wells Fargo & Co. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the barrier level, 85% of the initial price, on the determination date for that month, the notes will pay a contingent coupon at an annual rate of 21.91%.
The payout at maturity will be par plus the coupon unless the stock finishes below 85% of its initial price, in which case investors will lose 1% for each 1% decline.
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: | Contingent coupon equity-linked notes
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Underlying stock: | Wells Fargo & Co.
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Amount: | $1.3 million
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Maturity: | March 17, 2023
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Coupon: | 21.91% per year, payable monthly if stock closes at or above barrier level on the valuation date for that month
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Price: | Par
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Payout at maturity: | Par plus the coupon unless the stock finishes below 85% of its initial level, in which case investors will lose 1% for each 1% decline
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Initial stock price: | $29.63
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Barrier level: | 85% of initial stock price
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Pricing date: | March 17
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Settlement date: | March 20
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.825%
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Cusip: | 40056YUU6
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