Chicago, March 16 – GS Finance Corp. priced $3.1 million of callable contingent coupon equity-linked notes due Nov. 15, 2023 linked to the common stock of Devon Energy 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 coupon at an annualized rate of 15.65% if the stock closes at or above the coupon barrier price, 60% of the initial price, on the valuation date for that period. Coupons will be quarterly, but the tenor of the notes is eight months, so the final period will only be two months.
The notes may be called at par on the first two coupon dates.
If the notes have not been called, the payout at maturity will be par unless the stock closes below its 60% trigger value, in which case investors will lose 1% for every 1% that the stock finishes below its initial share price.
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: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Devon Energy Corp.
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| Amount: | $2 million
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| Maturity: | Nov. 15, 2023
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| Coupon: | 15.65% annual rate, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period, with final period only two months
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its trigger value, in which case investors will lose 1% for every 1% that the stock finishes below its initial share price
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| Call: | At par on either of the first two quarterly coupon dates
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| Initial share price: | $51.76
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| Coupon barrier level: | 60% of initial level
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| Trigger value: | 60% of initial level
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 40057PXJ6
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