By Wendy Van Sickle
Columbus, Ohio, April 10 – GS Finance Corp. priced $1.02 million of autocallable contingent coupon notes due March 31, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 7% if each underlier closes at or above 70% of its initial level on the related observation date.
The notes will be automatically called at par if each underlier closes above its initial level on any coupon observation date.
The payout at maturity will be par plus the final coupon, unless either underlier closes below its 70% trigger level, in which case investors will be fully exposed to the decline of the lesser-performing underlier.
Goldman Sachs & Co. is the underwriter.
| 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 assets: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index
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| Amount: | $1.02 million
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| Maturity: | March 31, 2022
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| Coupon: | 7.8%, payable each quarter that each underlier closes at or above 70% of initial level on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon, unless either underlier closes below 70% trigger level, in which case exposure to loss of lesser-performing underlier
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| Call: | At par if each underlier closes above initial level on any coupon observation date
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| Initial levels: | $47.53 for EM ETF and 3,316.95 for Stoxx
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| Coupon trigger levels: | $33.271 for EM ETF, 2,321.865 for Stoxx, 70% of initial levels
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| Pricing date: | March 27
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| Settlement date: | March 29
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 3.425%
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| Cusip: | 40055ASQ1
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