By Taylor Fox
New York, March 30 – GS Finance Corp. priced $1 million of autocallable contingent coupon equity-linked notes due March 21, 2022 linked to the American depositary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its coupon trigger level, 79% of the initial price, on the determination date for that period.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 79% buffer level, in which case investors will lose 1.2658% for each 1% decline beyond 21%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | Alibaba Group Holding Ltd.
|
| Amount: | $1 million
|
| Maturity: | March 21, 2022
|
| Coupon: | 10% per year, payable quarterly if shares close at or above coupon trigger level on a related determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock finishes below its buffer level, in which case investors will lose 1.2658% for each 1% decline beyond 21%
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $226.93
|
| Coupon trigger level: | 79% of initial share price
|
| Buffer level: | 79% of initial share price
|
| Pricing date: | March 17
|
| Settlement date: | March 24
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 40057FT20
|
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