By Sarah Lizee
Olympia, Wash., March 19 – GS Finance Corp. priced $500,000 of autocallable contingent coupon notes due March 16, 2023 tied to the S&P 500 index, Russell 2000 index and 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 quarter, the notes pay a contingent coupon at an annualized rate of 11.5% if each index closes at or above its trigger level, 75% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date prior to maturity beginning in September.
The payout at maturity will be par unless any index finishes below its 75% buffer level, in which case investors will lose 1.3333% for every 1% decline of the least-performing index beyond 25%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $500,000
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| Maturity: | March 16, 2023
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| Coupon: | 11.5% per year, payable each quarter that each index closes at or above its trigger level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its 75% buffer level, in which case investors will lose 1.3333% for every 1% decline of the least-performing index beyond 25%
|
| Call: | At par if each index closes at or above its initial level on any quarterly observation date prior to maturity beginning in September
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| Initial levels: | 2,480.64 for S&P, 1,122.930 for Russell and 2,545.23 for Stoxx
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| Coupon trigger/buffer levels: | 75% of initial levels
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| Pricing date: | March 12
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| Settlement date: | March 17
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.175%
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| Cusip: | 40056YUB8
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