New York, March 21 – GS Finance Corp. priced $2.75 million of autocallable contingent coupon notes due Sept. 16, 2025 linked to the iShares MSCI Emerging Markets exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annual rate of 7% if each underlier closes at or above 80% of its initial level on the related observation date.
After one year, the notes will be automatically called at par if each underlier closes above its initial level on any monthly coupon observation date.
The payout at maturity will be par plus the final coupon, unless either underlier closes below its 80% buffer level, in which case investors will be fully exposed to the decline of the lesser-performing underlier beyond 20%.
Goldman Sachs & Co. is the underwriter.
| 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 MSCI Emerging Markets ETF and Euro Stoxx 50 index
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| Amount: | $2,753,000
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| Maturity: | Sept. 16, 2025
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| Coupon: | 7%, payable each month that each underlier closes at or above 80% of initial level on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, unless either underlier closes below 80% buffer level, in which case exposure to loss of lesser-performing underlier beyond 20%
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| Call: | After one year at par if each underlier closes above initial level on any coupon observation date
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| Initial levels: | $49.75 for EM ETF and 3,420.54 for Stoxx
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| Coupon trigger levels: | $39.80 for EM ETF, 2,736.432 for Stoxx, 80% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.9%
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| Cusip: | 40055APK7
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