By Wendy Van Sickle
Columbus, Ohio, April 7 – GS Finance Corp. priced $1.96 million of callable contingent coupon underlier-linked notes due March 31, 2022 linked to the SPDR Gold trust, 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 11.05% if the underlier closes at or above 80% of its initial level on the observation date for that period.
The notes are callable at par plus any coupon on any coupon payment date.
If the notes are not redeemed early, the payout at maturity will be par plus the final coupon unless the underlier finishes below 80% of its initial level, in which case investors will be fully exposed to the loss.
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: | Callable contingent coupon underlier-linked notes
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| Underlying underliers: | SPDR Gold trust
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| Amount: | $1,955,000
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| Maturity: | March 31, 2022
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| Coupon: | 11.05% annualized, payable each quarter that underlier closes at or above trigger level on observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless underlier finishes below 80% of initial level, in which case full exposure to loss
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| Call option: | At par plus any coupon on any coupon payment date
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| Initial ETF level: | $152.25
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| Coupon trigger levels: | 80% of initial level
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| Pricing date: | March 27
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| Settlement date: | April 1
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.9%
|
| Cusip: | 40056YXB5
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