By Wendy Van Sickle
Columbus, Ohio, March 25 – GS Finance Corp. priced $178,000 of autocallable contingent coupon notes due March 9, 2023 linked to the ARK Innovation 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 13% per annum if the ETF closes at or above its 80% 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 after one year.
The payout at maturity will be par unless any asset closes below 80% of its initial level, in which case investors will be exposed to losses beyond 20%.
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: | ARK Innovation ETF
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Amount: | $178,000
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Maturity: | March 9, 2023
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Contingent coupon: | 13% annualized, payable quarterly if the ETF closes at or above coupon trigger level on the determination date for that period
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Price: | Par
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Payout at maturity: | Par unless ETF closes below 80% of its initial level, in which case exposure to losses beyond 20%
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Call: | Automatically at par plus contingent coupon if the ETF closes at or above initial level on any quarterly call observation date after one year
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Initial levels: | $118.43
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Coupon trigger: | 80% of initial level
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Pricing date: | March 4
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Settlement date: | March 9
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.175%
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Cusip: | 40057FQ98
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