By Kiku Steinfeld
Chicago, March 22 – GS Finance Corp. priced $353,000 of autocallable contingent coupon notes due Sept. 13, 2022 linked to the Invesco Solar ETF, 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 19% per annum if the ETF closes at or above its 70% coupon trigger level on the determination date for that period.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any asset closes below 70% of its initial level, in which case investors will be fully exposed to the decline.
Goldman Sachs & Co. LLC is the agent.
| 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 ETF: | Invesco Solar ETF
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| Amount: | $353,000
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| Maturity: | Sept. 13, 2022
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| Contingent coupon: | 19% annualized, payable quarterly if the ETF closes at or above coupon trigger level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF closes below 70% of its initial level, in which case investors will be fully exposed to the decline from its initial level
|
| Call: | Automatically at par plus contingent coupon if the ETF closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $94.50
|
| Coupon trigger: | 70% of initial level
|
| Trigger level: | 70% of initial level
|
| Pricing date: | March 3
|
| Settlement date: | March 8
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.47%
|
| Cusip: | 40057FKB9
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