By Susanna Moon
Chicago, May 25 – GS Finance Corp. priced $580,000 of autocallable contingent coupon notes due May 26, 2020 linked to the least performing of the common stocks of Bank of America Corp. and Pioneer Natural Resources Co. and the American depositary shares of Alibaba Group Holding Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.5% if each 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 each stock closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | Bank of America Corp. (Symbol: BAC), Pioneer Natural Resources Co. (Symbol: PXD) and Alibaba Group Holding Ltd. (Symbol: BABA)
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| Amount: | $580,000
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| Maturity: | May 26, 2020
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| Coupon: | 13.5% annualized, payable quarterly if each 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 each index finishes below 60% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call review date from November 2018 through February 2020
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| Initial levels: | $30.26 for BofA, $209.64 for Pioneer and $195.00 for Alibaba
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| Trigger levels: | 60% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 25
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.675%
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| Cusip: | 40055Q7H9
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