By Taylor Fox
New York, March 30 – GS Finance Corp. priced $1.88 million of autocallable contingent coupon notes due March 24, 2026 linked to the lowest performing of the S&P 500 index and 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 monthly coupon if each asset closes at or above its 50% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 7.25%.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any monthly determination date after one year.
The payout at maturity will be par plus any coupon due unless either asset finishes below 50% of its initial level, in which case investors will be fully exposed to the decline of the least performing asset.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | S&P 500 index and the ARK Innovation ETF
|
| Amount: | $1,878,000
|
| Maturity: | March 24, 2026
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| Contingent coupon: | 7.25% annual rate, payable monthly if each asset closes at or above coupon trigger level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon due unless either asset finishes below trigger buffer level, in which case investors will be fully exposed to the decline of the least performing asset
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any monthly call observation date after one year
|
| Initial asset levels: | 3,974.12 for S&P and $127.46 for ARK
|
| Coupon trigger levels: | 50% of initial levels
|
| Trigger buffer levels: | 50% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.6%
|
| Cusip: | 40057FRQ9
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