Chicago, March 16 – GS Finance Corp. priced $3.91 million of 11% autocallable fixed-coupon notes due April 15, 2024 linked to the common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial level on any monthly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless the stock finishes below the 75% trigger buffer level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
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: | Autocallable fixed-coupon notes
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Underlying stock: | Alphabet Inc.
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Amount: | $3,910,000
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Maturity: | April 15, 2024
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Coupon: | 11%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below the trigger buffer level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
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Call: | At par plus the coupon if the stock closes at or above its initial level on any monthly call observation date after six months
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Initial level: | $90.63
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Trigger buffer level: | 75% of initial level
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Pricing date: | March 10
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Settlement date: | March 15
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.15%
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Cusip: | 40057PXZ0
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