Chicago, March 16 – GS Finance Corp. priced $1.65 million of 0% bearish autocallable notes due June 13, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Starting on June 12, the notes will be automatically called if the index is below 95% of its initial level on any monthly call observation date. Investors will be paid par plus a call premium at a 33% annualized rate.
At maturity, if the index finishes below 95% of its initial level, the payout will be par plus 41.25%.
If the index declines less than 5% but gains less than 20%, investors will receive par.
Otherwise, investors will lose 1% for each 1% gain over 120% of the initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish autocallable notes
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| Underlying index: | S&P 500 index
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| Amount: | $1,645,000
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| Maturity: | June 13, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 41.25% if index closes below 95% of initial level; par if index declines not more than 5% and gains not more than 20%; otherwise, 1% loss for each 1% gain above 120% of initial level
|
| Call: | Automatically called on monthly observation dates starting after three months at par plus annualized 33% call premium if index closes below 95% of initial level
|
| Initial level: | 3,861.59
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| Trigger buffer level: | 120% of initial level
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| Pricing date: | March 10
|
| Settlement date: | March 15
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 40057PZJ4
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