By Wendy Van Sickle
Columbus, Ohio, April 8 – GS Finance Corp. priced $105,000 of autocallable contingent coupon notes due Sept. 26, 2022 linked to the lowest performing of the iShares Global Clean Energy ETF and the Invesco Solar ETF, 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 if each asset closes at or above its 60% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 17.5%.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus any coupon due unless either asset finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing asset.
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 notes
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Underlying assets: | iShares Global Clean Energy ETF and the Invesco Solar ETF
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Amount: | $105,000
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Maturity: | Sept. 26, 2022
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Contingent coupon: | 17.5% annual rate, payable quarterly if each asset closes at or above coupon trigger level on the determination date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon due unless either asset finishes below trigger buffer level, in which case investors will be fully exposed to the decline of the least performing asset
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Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date
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Initial asset levels: | $23.34 for iShares Global and $89.58 for Invesco Solar
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Coupon trigger levels: | 60% of initial levels
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Trigger buffer levels: | 60% of initial levels
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Pricing date: | March 19
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Settlement date: | March 24
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.67%
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Cusip: | 40057FSB1
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