By William Gullotti
Buffalo, N.Y., April 13 – GS Finance Corp. priced $3.41 million of autocallable contingent coupon ETF-linked notes due April 8, 2025 tied 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 monthly coupon at an annual rate of 15.5% if the ETF closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if the ETF closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not called and the ETF closes at or above 50% of initial value, the payout will be par.
If the ETF falls by more than 50%, investors will be fully exposed to the ETF’s decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying ETF: | ARK Innovation ETF
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| Amount: | $3.41 million
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| Maturity: | April 8, 2025
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| Coupon: | 15.5% annualized rate, payable monthly if the ETF closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | If the ETF finishes at or above trigger buffer level, par; if the ETF falls by more than 50%, full exposure to losses
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| Call: | At par plus coupon if the ETF closes at or above its initial level on any quarterly call observation date after six months
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| Initial ETF level: | $67.54
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| Trigger buffer level: | 50% of initial levels
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| Coupon trigger level: | 70% of initial levels
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| Pricing date: | April 1
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| Settlement date: | April 6
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.02%
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| Cusip: | 40057LNK3
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