By Wendy Van Sickle
Columbus, Ohio, April 8 – GS Finance Corp. priced $8 million of autocallable contingent coupon notes due April 7, 2026 linked to the lowest performing of the ARK Innovation ETF and 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 monthly coupon if each asset 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 17.5%.
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 85% of its initial level, in which case investors will be exposed to the decline of the least performing asset beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
|
| Underlying assets: | ARK Innovation ETF and Invesco Solar ETF
|
| Amount: | $8 million
|
| Maturity: | April 7, 2026
|
| Contingent coupon: | 17.5% 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 exposed to the decline of the least performing asset beyond 15%
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any monthly observation date after one year
|
| Initial asset levels: | $119.95 for ARK Innovation and $91.77 for Invesco Solar
|
| Coupon trigger levels: | 85% of initial levels
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| Buffer levels: | 85% of initial levels
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| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.5%
|
| Cusip: | 40057FWW0
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