By Wendy Van Sickle
Columbus, Ohio, March 26 – GS Finance Corp. priced $1.3 million of contingent coupon equity-linked notes due March 17, 2023 linked to Wells Fargo & Co. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the barrier level, 85% of the initial price, on the determination date for that month, the notes will pay a contingent coupon at an annual rate of 21.91%.
The payout at maturity will be par plus the coupon unless the stock finishes below 85% of its initial price, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent coupon equity-linked notes
|
| Underlying stock: | Wells Fargo & Co.
|
| Amount: | $1.3 million
|
| Maturity: | March 17, 2023
|
| Coupon: | 21.91% per year, payable monthly if stock closes at or above barrier level on the valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon unless the stock finishes below 85% of its initial level, in which case investors will lose 1% for each 1% decline
|
| Initial stock price: | $29.63
|
| Barrier level: | 85% of initial stock price
|
| Pricing date: | March 17
|
| Settlement date: | March 20
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.825%
|
| Cusip: | 40056YUU6
|
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