By Susanna Moon
Chicago, March 3 – GS Finance Corp. priced $780,000 of autocallable contingent coupon notes due March 14, 2018 linked to Apple Inc. stock, 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 84.8% coupon barrier on the determination date for that quarter.
The notes will be called at par if the stock closes at or above initial level on any interest payment date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 84.8% trigger level, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. is the underwriter with JPMorgan as the placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stock: | Apple Inc. (Symbol: AAPL)
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| Amount: | $780,000
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| Maturity: | March 14, 2018
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| Contingent coupon: | 10% annualized, payable quarterly if stock closes at or above 84.8% coupon barrier on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par if stock finishes above 50% trigger level; otherwise 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any coupon payment date
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| Initial levels: | $136.66
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| Trigger level: | 84.8% of initial level
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| Pricing date: | Feb. 24
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| Settlement date: | March 1
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| Agent: | Goldman Sachs & Co. with JPMorgan
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| Fees: | 4.45%
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| Cusip: | 40054KXH4
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