By Kiku Steinfeld
Chicago, March 17 – GS Finance Corp. priced $1 million of autocallable contingent coupon notes due March 10, 2022 linked to the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at a rate of 11% per year if each index closes at or above 75% of its initial level on the observation date for that period.
The notes are callable at par plus the coupon on any coupon payment date starting in September.
If the notes are not redeemed, the payout at maturity will be par plus the coupon unless any index finishes below 75% of its initial level, in which case investors will be exposed to the loss of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average and Nasdaq-100
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| Amount: | $1,000,000
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| Maturity: | March 10, 2022
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| Coupon: | 11% per year; payable each quarter that each index closes at or above 75% of its initial level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any index finishes below 75% of initial level, in which case exposure to loss of least performing index
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| Call: | At par plus coupon on any coupon payment date starting in September
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| Initial index levels: | 8,530.337 for Nasdaq, 25,864.78 for Dow
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| Trigger levels: | 75% of initial levels
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| Pricing date: | March 6
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| Settlement date: | March 11
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.9%
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| Cusip: | 40056YKU7
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