Kiku Steinfeld
Chicago, March 9 – GS Finance Corp. priced $3.16 million of 0% bearish autocallable notes due March 3, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus 11% on any daily call observation date if the index closes below 25% of its initial level.
At maturity, if the index closes below 25% of its initial level, the payout will be par plus 11%. If the index falls by up to 25% of its initial level, the payout will be par plus the absolute value of the index return.
If the index finishes flat or gains, investors will lose 1% for every 1% gain in the index, subject to a minimum payout of $900 per $1,000 of notes.
The underwriter is Goldman Sachs & Co. LLC.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish autocallable notes
|
| Underlying index: | S&P 500 index
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| Amount: | $3,164,000
|
| Maturity: | March 3, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 11% if index closes below 25% of its initial level; par plus absolute value of index return if index falls by up to 25%; if index finishes flat or gains, 1% loss for every 1% gain in the index, subject to a minimum payout of $900 per $1,000 of notes
|
| Call: | Par plus 11% on any daily call observation date if the index closes below 25% of its initial level
|
| Initial level: | 3,116.39
|
| Trigger level: | 75% of initial level
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 2
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.675%
|
| Cusip: | 40056YK60
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