By Wendy Van Sickle
Columbus, Ohio, April 17 – GS Finance Corp. priced $10 million of contingent income buffered autocallable securities due April 18, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.4008%, paid monthly, if the underlying fund closes at or above its 87% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date starting May 3.
At maturity, the payout will be par unless the fund declines by more than 13%, in which case investors will lose 1.1494% for each 1% decline beyond 13%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income buffered autocallable securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $10 million
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| Maturity: | April 18, 2024
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| Coupon: | 12.4008%, paid monthly, if the underlying fund closes at or above its 87% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if the fund finishes at or above 87% of initial level; otherwise, lose 1.1494% for each 1% decline beyond 13%
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| Call: | Automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date starting May 3
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| Initial level: | $409.19
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| Buffer: | 13%
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| Coupon barrier: | $355.9953, 87% of initial level
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| Pricing date: | April 11
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| Settlement date: | April 14
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 40057RGF9
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