By Sarah Lizee
Olympia, Wash., April 10 – GS Finance Corp. priced $3.93 million 0% bearish trigger jump securities with autocallable feature due Oct. 14, 2020 based on the inverse performance of the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus an annual call premium of 18% if the index closes at or below 90% of its initial level on any quarterly call observation date starting Jan. 8, 2020.
If the final index value is flat or below the initial level, the payout at maturity will be par plus 18%.
If the final index value increases by up to 10% from the initial index value, the payout will be par.
If the final index value increases by more than 10%, investors will lose 1% for each 1% increase above the initial level.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish trigger jump securities with autocallable feature
|
| Underlying index: | S&P 500
|
| Amount: | $3,927,400
|
| Maturity: | Oct. 14, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the final index value is flat or below the initial level, par plus 18%; if index gains by up to 10%, par; if index increases by more than 10%, 1% loss for each 1% increase above the initial level
|
| Call: | At par plus an annual call premium of 18% if the index closes at or below 90% of its initial level on any quarterly call observation date starting Jan. 8, 2020
|
| Initial index level: | 2,895.77
|
| Trigger level: | 3,185.347, 110% of initial level
|
| Pricing date: | April 8
|
| Settlement date: | April 11
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.4%
|
| Cusip: | 36257D386
|
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