By Susanna Moon
Chicago, May 1 – GS Finance Corp. priced $793,000 of autocallable contingent coupon notes due May 1, 2020 linked to the common stock of Micron Technology, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.75% if the underlying stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless the stock closes below its 60% downside threshold, in which case investors will be fully exposed to any losses.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the 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: | Micron Technology, Inc. (Symbol: MU)
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| Amount: | $793,000
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| Maturity: | May 1, 2020
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| Coupon: | 14.75% annualized, payable quarterly if stock closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above 60% downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par if stock closes at or above its initial level on any quarterly call review date from October 2018 through January 2020
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| Initial level: | $47.11
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| Trigger level: | 60% of initial level
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| Pricing date: | April 24
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| Settlement date: | April 27
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.175%
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| Cusip: | 40055AXK8
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