By Marisa Wong
Morgantown, W.Va., March 4 – GS Finance Corp. priced $200,000 of 0% autocallable notes due March 11, 2026 linked to the Motif Capital Artificial Intelligence 8 ER index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes at or above the applicable call level on any annual call observation date, the notes will be automatically called at par plus a call return of 6.5% per year. The call level will be 102.4% of the initial level for the first call observation date on Feb. 25, 2020 and steps up by 240 basis points each year to a call level of 114.4% of the initial level for the final call observation date on Feb. 25, 2025.
The payout at maturity will be par plus 2 times any index gain. If the index falls, the payout will be par.
The index attempts to track the common equity of U.S. and non-U.S. companies listed on U.S. exchanges that either develop or use artificial intelligence technology, subject to a volatility cap of 8%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable notes
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| Underlying index: | Motif Capital Artificial Intelligence 8 ER index
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| Amount: | $200,000
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| Maturity: | March 11, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 2 times any index gain; if the index falls, par
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| Call: | Automatically at par plus a call return of 6.5% per year if the index closes at or above the applicable call level on any annual call observation date; call level will be 102.4% of the initial level for the first call observation date on Feb. 25, 2020 and steps up by 240 bps each year to a call level of 114.4% of the initial level for the final call observation date on Feb. 25, 2025
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| Initial level: | 123.04
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.9%
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| Cusip: | 40056EWV6
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