By William Gullotti
Buffalo, N.Y., May 22 – GS Finance Corp. priced $22.25 million of 0% bearish autocallable index-linked notes due May 1, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 26% annualized call premium if the index closes at or below its call level, 95% of initial level, on any quarterly valuation date after one year.
If the notes are not called and the index finishes at or below call level, the payout at maturity will be par plus 52%.
If the index finishes at or above call level but less than or equal to the 125% trigger buffer level, the payout will be par. Otherwise, investors will lose 1% for each 1% gain of the index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish autocallable index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $22,254,000
|
| Maturity: | May 1, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or below call level, par plus 52%; if finishes at or above call level but less than or equal to the trigger buffer level, par; otherwise, lose 1% for every 1% gain from initial level
|
| Call: | Automatically at par plus a 26% annualized call premium if the index closes at or below call level on any quarterly valuation date after one year
|
| Initial level: | 4,169.48
|
| Trigger buffer level: | 125% of initial level
|
| Call level: | 95% of initial level
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 40057RQV3
|
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