By Kiku Steinfeld
Chicago, March 22 – GS Finance Corp. priced $3.83 million of autocallable contingent coupon equity-linked securities due March 11, 2024 linked to the stocks of Alphabet Inc., Apple Inc. and Microsoft Corp., 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 13.2% if each stock closes at or above the barrier price, 70% of the initial price, on the determination date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and each stock finishes at or above its barrier price, 70% of its initial level, the payout at maturity will be par plus the contingent coupon.
If the notes are not called and the final share price of each stock is greater than or equal to its final barrier price, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Alphabet Inc., Apple Inc. and Microsoft Corp.
|
| Amount: | $3,831,000
|
| Maturity: | March 11, 2024
|
| Coupon: | 13.2% annualized rate if each stock closes at or above the barrier price, 70% of the initial price, on the quarterly determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if each stock closes at or above 70% of its initial share price; otherwise, full exposure to decline of least performing stock
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above its initial level on any quarterly call observation date after six months
|
| Initial share prices: | $2,026.71 for Alphabet, $122.06 for Apple and $227.56 for Microsoft
|
| Coupon barrier prices: | 70% of initial levels
|
| Final barrier prices: | 70% of initial levels
|
| Pricing date: | March 3
|
| Settlement date: | March 8
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 40057FN67
|
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