Chicago, March 16 – GS Finance Corp. priced $3.1 million of callable contingent coupon equity-linked notes due Nov. 15, 2023 linked to the common stock of Micron Technology, Inc., according to a 424B2 filing with the Notes and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 12.2% if the stock closes at or above the coupon barrier price, 55% of the initial price, on the valuation date for that period. The last coupon payment period will be two months.
The notes may be called at par plus any contingent coupon due on any coupon payment date.
If the notes are not called and the final share price is greater than or equal to the 55% trigger buffer price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the stock price.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Micron Technology Inc.
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| Amount: | $3,100,000
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| Maturity: | Nov. 15, 2023
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| Coupon: | 12.2% annual rate, payable quarterly if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | If notes are not called and final share price is greater than or equal to final trigger buffer price, par plus final coupon; otherwise, full exposure to decline in the stock
|
| Call option: | At par plus any contingent coupon due on any coupon payment date at option of issuer
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| Initial share price: | $54.93
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| Coupon barrier price: | 55% of initial level
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| Trigger buffer price: | 55% of initial level
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 40057PXH0
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