By William Gullotti
Buffalo, N.Y., May 23 – GS Finance Corp. priced $5.7 million of 0% bearish autocallable index-linked notes due May 22, 2024 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 19.5% annualized call premium if the index closes at or below its initial level on any trading day after six months.
If the notes are not called and the index finishes at or below initial level, the payout at maturity will be par plus 19.5%.
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
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| Amount: | $5.7 million
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| Maturity: | May 22, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the index finishes at or below initial level, par plus 19.5%; otherwise, lose 1% for every 1% gain from initial level
|
| Call: | Automatically at par plus a 19.5% annualized call premium if the index closes at or below initial level on any index trading day starting Aug. 17
|
| Initial level: | 4,109.9
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| Strike date: | May 16
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| Pricing date: | May 17
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| Settlement date: | May 22
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.25%
|
| Cusip: | 40057RWC8
|
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