By Taylor Fox
New York, March 26 – GS Finance Corp. priced $261,000 of autocallable contingent coupon notes due Sept. 19, 2022 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 12.5% per annum if the ETF closes at or above its 60% 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 share price on any quarterly call observation date.
The payout at maturity will be par unless the ETF finishes below 60% of its initial share price, in which case investors will be exposed to the ETF’s decline from its initial share price.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $261,000
|
| Maturity: | Sept. 19, 2022
|
| Contingent coupon: | 12.5% annualized, payable quarterly if the ETF closes at or above the coupon trigger level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below 60% of initial share price, in which case exposure to losses from initial share price
|
| Call: | Automatically at par plus contingent coupon if ETF closes at or above initial share price on any quarterly call observation date
|
| Initial share prices: | $126.68
|
| Coupon trigger: | 60% of initial share price
|
| Barrier price: | 60% of initial share price
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.525%
|
| Cusip: | 40057FQT4
|
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