By Wendy Van Sickle
Columbus, Ohio, April 11 – GS Finance Corp. priced $919,000 of callable contingent coupon notes due April 1, 2022 linked to the worst performing of the SPDR S&P Biotech ETF and the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.1% if each ETF closes at or above 60% of its initial level on the observation date that quarter.
The notes are callable at par of $1,000 on any contingent coupon payment date after a year.
The payout at maturity will be par plus the final coupon payment, if any, unless either ETF finishes below 50% of its initial level, in which case investors will lose 1% for each 1% decline of the least-performing ETF from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying ETFs: | SPDR S&P Biotech ETF and SPDR S&P Bank ETF
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| Amount: | $919,000
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| Maturity: | April 1, 2022
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| Coupon: | 8.1%, payable quarterly if each ETF closes at or above 60% of initial levels on observation date that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless either ETF declines by more than 50%, in which case 1% loss for each 1% decline of least-performing ETF from initial level
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| Call option: | At par on any interest payment date after a year
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| Initial levels: | $87.73 for Biotech ETF, $47.89 for Bank ETF
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 1%
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| Cusip: | 40055AUG0
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