By Sarah Lizee
Olympia, Wash., May 15 – GS Finance Corp. priced $13.33 million of trigger autocallable contingent yield notes due May 18, 2022 linked to the Dow Jones industrial average, 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 9.52% if the index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any observation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the index from its initial level.
Goldman Sachs & Co. LLC is the agent and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $13,326,830
|
| Maturity: | May 18, 2022
|
| Coupon: | 9.52%, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any observation date after six months
|
| Payout at maturity: | Par plus final coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline from initial level
|
| Initial level: | 23,247.97
|
| Coupon barrier: | 16,273.58, 70% of initial level
|
| Downside threshold: | 16,273.58, 70% of initial level
|
| Pricing date: | May 13
|
| Settlement date: | May 18
|
| Agent: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 1.675%
|
| Cusip: | 36259J266
|
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