By Wendy Van Sickle
Columbus, Ohio, April 11 – GS Finance Corp. priced $2.71 million of autocallable contingent coupon notes due April 18, 2018linked to the common stock of Bank of America Corp., 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 quarterly contingent coupon at an annual rate of 10% if the stock closes at or above its trigger level, 72.45% of its initial level, on the determination date for that quarter, plus any previously unpaid quarterly coupon.
The notes will be automatically called at par if the stock closes at or above its initial level on any coupon determination date.
The payout at maturity will be par plus the final coupon, if any, unless the stock finishes below 72.45% of its initial level, in which case investors will be fully exposed to any loss in the stock.
Goldman Sachs & Co. is the underwriter.
| 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 shares: | Bank of America Corp.
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| Amount: | $2,713,000
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| Maturity: | April 18, 2018
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| Coupon: | 10% per year, payable quarterly if stock closes at or above trigger level on determination date for that quarter, plus any previously unpaid quarterly coupon
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| Price: | Par
|
| Payout at maturity: | Par plus coupon, if any, unless stock finishes below 72.45% of initial level, in which case full exposure to loss
|
| Call: | Automatically at par if stock closes at or above initial level on any coupon determination date
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| Initial stock price: | $23.59
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| Trigger level: | 72.45% of initial price
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Goldman Sachs & Co.
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| Fees: | 1.1%
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| Cusip: | 40054L3G7
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