By Wendy Van Sickle
Columbus, Ohio, March 29 – GS Finance Corp. priced $36.86 million of 0% bearish barrier early redeemable market-linked notes with daily barrier observation due Nov. 16, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
A barrier event will occur if the index’s closing level is less than 75% of the initial index level on any trading day during the life of the notes.
If a barrier event occurs, the notes will be redeemed and holders will receive par plus 1%.
If a barrier event has not occurred and the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 1%. If the final index level is less than the initial index level by up to 25%, the payout will be par plus the absolute value of the index return.
If the final index level is less than the initial level by more than 25%, the payout will be par plus 1%.
UBS Financial Services Inc. and Goldman Sachs & Co. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish barrier early redeemable market-linked notes with daily barrier observation
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| Underlying index: | S&P 500
|
| Amount: | $36,862,000
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| Maturity: | Nov. 16, 2020
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and the final index level is greater than or equal to the initial index level, par plus 1%; if the final index level is less than the initial index level by up to 25%, par plus the absolute value of the index return; if the final index level is less than the initial level by more than 25%, par plus 1%
|
| Call: | At par plus 1% if the index closes below the lower barrier on any day during the life of the notes
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| Initial index level: | 2,805.37
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| Lower barrier: | 75% of initial level
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| Pricing date: | March 27
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| Settlement date: | March 29
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| Agents: | UBS Securities LLC and Goldman Sachs & Co.
|
| Fees: | 1.65%
|
| Cusip: | 40056F3J2
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