New York, April 25 – GS Finance Corp. priced $8.62 million of contingent income autocallable securities due April 22, 2027 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon of 11.06% if the shares close at or above 75% of their initial level on the related observation date.
The securities will be called automatically starting July 19 if the price of the underlying stock is greater than or equal to its initial price on any quarterly observation date.
At maturity the payout will be par unless the stock closes below its 75% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Bank of America Corp.
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| Amount: | $8,616,000
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| Maturity: | April 22, 2027
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| Coupon: | 11.06%, payable quarterly if shares close above downside threshold on observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting July 19 if the price of the underlying stock is greater than or equal to its initial price on any quarterly observation date
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| Initial level: | $36.97
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| Downside threshold: | $27.7275, 75% of initial level
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | Goldman Sachs & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
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| Fees: | 2.25%
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| Cusip: | 40058A4A9
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