By Sarah Lizee
Olympia, Wash., May 26 – GS Finance Corp. priced $14.16 million of 0% bearish autocallable absolute return notes due June 23, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If on any day during the life of the notes the index closes at less than 85% of the initial level, the notes will be automatically called at par.
If the notes are not called and the index closes at or above its initial level, the payout will be par.
If the notes are not called and the index falls by no more than 15%, the payout will be par plus the absolute value of the index return. If the index declines by more than 15%, investors will receive par.
The underwriter is Goldman Sachs & Co. LLC.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish autocallable absolute return notes
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| Underlying index: | S&P 500 index
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| Amount: | $14.16 million
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| Maturity: | June 23, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the index closes at or above its initial level, par; if the notes are not called and the index falls by no more than 15%, par plus absolute value of the index return; if the index declines by more than 15%, par
|
| Call: | Automatically at par if on any day during life of the notes the index closes at less than barrier level
|
| Initial level: | 2,948.51
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| Barrier level: | 85% of initial level
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| Pricing date: | May 21
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| Settlement date: | May 29
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.48%
|
| Cusip: | 40057C2Z3
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