By Sarah Lizee
Olympia, Wash., May 2 – GS Finance Corp. priced $2.31 million of autocallable contingent coupon notes due May 7, 2024 linked to the iShares China Large-Cap ETF and the Hang Seng China Enterprises index, 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 contingent quarterly coupon of 9.5% per annum if each underlying closes at or above its 90% coupon trigger level on the related quarterly determination date.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par unless either underlying finishes below 85% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing underlying beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying assets: | iShares China Large-Cap ETF, Hang Seng China Enterprises index
|
| Amount: | $2.31 million
|
| Maturity: | May 7, 2024
|
| Contingent coupon: | 9.5% annualized, payable each quarter that each underlying closes at or above 90% coupon trigger level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying finishes below 85% of its initial level, in which case 1% loss for every 1% decline of the least performing underlying beyond 15%
|
| Call: | Automatically at par plus contingent coupon if each underlying closes at or above initial level on any quarterly call observation date starting in April 2020
|
| Initial values: | $44.49 for ETF and 11,542.25 for index
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.1%
|
| Cusip: | 40056FDT9
|
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