By Wendy Van Sickle
Columbus, Ohio, March 24 – GS Finance Corp. priced $1 million of autocallable contingent coupon equity-linked notes due March 3, 2022 linked to Freeport-McMoRan, Inc. common stock, 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 12% if the stock closes at or above its trigger level, 64% of the initial price, on the determination date for that period, plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 64% trigger level, in which case investors will lose 1.5625% for each 1% decline beyond 36%.
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 equity-linked notes
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| Underlying stock: | Freeport-McMoRan, Inc.
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| Amount: | $1 million
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| Maturity: | March 3, 2022
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| Coupon: | 12% per year, payable quarterly if shares close at or above trigger level on a related determination date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its trigger level, in which case investors will lose 1.5625% for each 1% decline beyond 36%
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| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
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| Initial share price: | $35.68
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| Trigger level: | 64% of initial share price
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| Pricing date: | Feb. 26
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| Settlement date: | March 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057FP81
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