By Wendy Van Sickle
Columbus, Ohio, April 10 – GS Finance Corp. priced $3.44 million of 0% autocallable underlier-linked notes due April 3, 2028 based on the performance of 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.
The notes bear quarterly interest for the first year only at an annualized rate of 11.5%.
After the first year, the notes will be automatically called at par plus an 11.5% annualized call premium if both components close at or above their initial levels on any quarterly call observation date. The call premium will not begin to accrue until after the first year.
If the notes are not called and both components finish at or above their initial levels, the payout at maturity will be $2,035 per $1,000 principal amount.
If both components finish below their initial levels but the return of each component is at least negative 50%, the payout will be par.
If the return of either component is less than negative 50%, the payout will be par plus the return of the lesser performing component, with full exposure to losses.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable underlier-linked notes
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| Underlying components: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index
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| Amount: | $3,443,000
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| Maturity: | April 3, 2028
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| Coupon: | For first year, 11.5% annualized, payable quarterly; after first year, 0%
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| Price: | Par
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| Payout at maturity: | If both components finish at or above their initial levels, $2,035 per $1,000 note; if both components finish below their initial levels but the return of each component is at least negative 50%, $par; if return of either component is less than negative 50%, full exposure to losses of the lesser performing component
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| Call: | At par plus call premium if both components close at or above their initial levels on a quarterly call observation date; premium equals 11.5% a year and begins to accrue in second year
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| Initial levels: | $47.53 for EM ETF and 3,316.95 for Stoxx
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| Pricing date: | March 27
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| Settlement date: | March 29
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 1.15%
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| Cusip: | 40055ATZ0
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