By Emma Trincal
New York, March 29 – GS Finance Corp. priced $74,000 of 0% bearish autocallable absolute return notes due March 27, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If on any day during the life of the notes the index closes at less than 70% of the initial level, the notes will be automatically called at par.
If the notes are not called and the index finishes at or above its initial level, the payout will be par plus 9.5%.
If the notes are not called and the index falls by no more than 30%, the payout will be par plus the absolute value of the index return. If the index declines by more than 30%, investors will receive par.
The underwriter is Goldman Sachs & Co. LLC.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish autocallable absolute return notes
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| Underlying index: | S&P 500 index
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| Amount: | $74,000
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| Maturity: | March 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the index finishes at or above its initial level, par plus 9.5%; if the notes are not called and the index falls by no more than 30%, par plus absolute value of the index return; if the index declines by more than 30%, par
|
| Call: | Automatically at par if on any day during life of the notes the index closes below barrier level
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| Initial level: | 3,948.72
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| Barrier level: | 70% of initial level
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 40057PZX3
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