By Marisa Wong
Morgantown, W.Va., May 20 – GS Finance Corp. priced $24.28 million of 0% bearish autocallable notes due April 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an annualized premium of 8.5% if the index closes at or below its initial level on any semiannual observation date.
If the notes are not called and the index finishes at or below 115% of its initial level, the payout will be the maximum settlement amount of $1,170 per $1,000 principal amount. If the index gains by more than 15%, investors will lose 1% for every 1% gain in the index.
The underwriter is Goldman Sachs & Co. LLC. JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish autocallable notes
|
| Underlying index: | S&P 500
|
| Amount: | $24,275,000
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| Maturity: | April 29, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If index finishes at or below 115% of its initial level, par plus 17%; otherwise, 1% loss for every 1% gain in the index
|
| Call: | Automatically at par plus an annualized premium of 8.5% if the index closes at or below its initial level on any semiannual observation date
|
| Initial level: | 2,939.88
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| Final level: | Average of closing levels on five trading days ending April 26, 2021
|
| Pricing date: | April 26
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| Settlement date: | May 1
|
| Underwriter: | Goldman Sachs & Co. with JPMorgan as placement agent
|
| Fees: | 1.65%
|
| Cusip: | 40056FCJ2
|
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