By Kiku Steinfeld
Chicago, March 10 – GS Finance Corp. priced $3.03 million of autocallable contingent coupon notes due Aug. 31, 2023 linked to the lowest performing of the S&P 500 index and the Russell 2000 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 monthly coupon if each index closes at or above its 85% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 5.5%.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly determination date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below 85% of its initial level, in which case investors will be fully exposed to the decline of the least performing index beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $3,029,000
|
| Maturity: | Aug. 31, 2023
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| Contingent coupon: | 5.5% annual rate, payable monthly if each index closes at or above coupon trigger level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below buffer level, in which case investors will be fully exposed to the decline of the least performing index beyond buffer
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly call observation date after one year
|
| Initial index levels: | 2,284.381 for Russell, 3,925.43 for S&P
|
| Coupon trigger levels: | 85% of initial levels
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| Buffer levels: | 85% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.925%
|
| Cusip: | 40057FJH8
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