By William Gullotti
Buffalo, N.Y., June 3 – GS Finance Corp. priced $2.48 million of 0% autocallable absolute return notes due May 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes below 80% of its initial level on any day during the life of the notes, the notes will be automatically called at par.
A barrier event will occur if the index closes at or above 120% of its initial level on any day during the life of the notes.
If a barrier event has occurred, the payout at maturity will be par plus 2.96%.
If a barrier event has not occurred and the index return is greater than or equal to zero, the payout will be par plus the index return, subject to a maximum return of 20%.
If a barrier event has not occurred and the index declines up to 20%, the payout will be par plus the absolute value of the index return.
If a barrier event has not occurred and the index declines below 20%, the payout will be par.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable absolute return notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,475,000
|
| Maturity: | May 30, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If barrier event has occurred, par plus 2.96%; if barrier event has not occurred and index return is greater than or equal to zero, par plus index return capped at 20%; if barrier event has not occurred and index declines no more than 20%, par plus absolute value of index return; if barrier event has not occurred and index declines more than 20%, par
|
| Call: | Automatically at par if index closes below 80% of its initial level on any trading day during the life of the notes
|
| Barrier event: | Index closes at or above 120% of initial level on any day during life of notes
|
| Initial index level: | 3,978.73
|
| Pricing date: | May 25
|
| Settlement date: | June 2
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.3%
|
| Cusip: | 40057M4N6
|
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