By Susanna Moon
Chicago, June 25 – GS Finance Corp. priced $1.04 million of autocallable contingent coupon notes due June 22, 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 monthly coupon at an annual rate of 13.25% if the underlying stock closes at or above its 60% coupon barrier on the observation date for that month.
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 finishes below its 60% trigger level, 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 stocks: | Micron Technology, Inc. (Symbol: MU)
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| Amount: | $1,039,000
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| Maturity: | June 22, 2020
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| Coupon: | 13.25% annualized, payable monthly if stock closes at or above 60% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | If stock finishes below 60% trigger level, 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 December 2018 through March 2020
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| Initial levels: | $58.23
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| Trigger levels: | 60% of initial levels
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| Pricing date: | June 15
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| Settlement date: | June 20
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.175%
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| Cusip: | 40055QBS0
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