By Wendy Van Sickle
Columbus, Ohio, Feb. 13 – GS Finance Corp. priced $8.94 million autocallable continent coupon notes due Feb. 27, 2019 linked to Bank of America Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent coupon at an annualized rate of 10% for each quarter for which no coupon has been paid if the stock closes at or above the 75% downside threshold on a quarterly review date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stock: | Bank of America Corp.
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| Amount: | $8,935,000
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| Maturity: | Feb. 27, 2019
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| Coupon: | 10% per year, payable for each quarter for which no coupon has been paid if stock closes at or above barrier on a quarterly determination date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above barrier, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above initial level on any determination date other than final date
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| Initial level: | $30.33
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| Downside threshold: | $24.264, 75% of initial level
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1.1%
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| Cusip: | 40055AL54
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