By Wendy Van Sickle
Columbus, Ohio, April 26 – GS Finance Corp. priced $1.8 million of autocallable contingent coupon stock-linked notes due May 5, 2020 linked to the American depositary shares of Itau Unibanco Holding SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon of 16.6% per annum if the stock closes at or above its 70% coupon trigger level on a related quarterly determination date, in which event a coupon will also be paid for any previous quarter during the life of the notes for which a coupon was not paid
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 70% trigger level, in which case investors will lose 1% for every 1% decline of the stock.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon stock-linked notes
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| Underlying stock: | Itau Unibanco Holding SA
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| Amount: | $1.8 million
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| Maturity: | May 5, 2020
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| Coupon: | 16.6% per year, payable each quarter that stock closes at or above its 70% coupon trigger level on the related quarterly determination date, in which case coupon will be paid for any previously unpaid quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock finishes below its 70% trigger level, in which case 1% loss for every 1% decline of stock
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| Call: | At par plus the contingent coupon if stock closes at or above its initial level on any quarterly determination date
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| Initial stock price: | $8.39
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| Pricing date: | April 18
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| Settlement date: | April 23
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.1%
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| Cusip: | 40056FC86
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