By William Gullotti
Buffalo, N.Y., April 12 – GS Finance Corp. priced $3.51 million of 0% autocallable index-linked notes due April 9, 2026 tied 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 be called at par plus a 7% annualized call premium if the index closes at or above its call level on any quarterly valuation date after six months. Call level starts at 100% of initial level and steps down by 5% per year on each July observation date.
If the notes are not called and the index finishes at or above 90% of initial level, the payout at maturity will be par plus 21%.
If the index declines by more than 10% but finishes at or above the 70% barrier level, the payout will be par; otherwise, investors will be fully exposed to the decline of the index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying index: | Dow Jones industrial average
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| Amount: | $3.51 million
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| Maturity: | April 9, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index finishes at or above 90% of initial level, par plus 21%; if the index declines by more than 10% but finishes at or above the 70% barrier level, par; otherwise, full exposure to the decline of the index from initial level
|
| Call: | At par plus a 7% annualized call premium if index closes at or above call level on any quarterly valuation date after six months; call level starts at 100% of initial level and steps down by 5% per year on each July observation date
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| Initial level: | 33,485.29
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| Barrier level: | 70% of initial level
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| Pricing date: | April 6
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| Settlement date: | April 11
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2%
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| Cusip: | 40057RFT0
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