By Marisa Wong
Morgantown, W.Va., April 1 – GS Finance Corp. priced $3.77 million of contingent income autocallable securities due March 11, 2022 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
The guarantor is Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8.95% if the stock closes at or above the 75% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any of the first 11 determination dates.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% share price decline.
Goldman Sachs & Co. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Boeing Co. (Symbol: BA)
|
| Amount: | $3,768,920
|
| Maturity: | March 11, 2022
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| Coupon: | 8.95% annualized, payable each quarter that stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, full exposure to share price decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any of first 11 determination dates
|
| Initial share price: | $422.54
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| Downside threshold: | $316.905, 75% of initial price
|
| Pricing date: | March 8
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| Settlement date: | March 13
|
| Agent: | Goldman Sachs & Co. with Morgan Stanley Wealth Management as dealer
|
| Fees: | 2.675%
|
| Cusip: | 36257D261
|
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