By William Gullotti
Buffalo, N.Y., May 11 – GS Finance Corp. priced $6.45 million of trigger autocallable contingent yield notes due May 11, 2032 linked to the S&P 500 Value index and the Euro Stoxx 50 index, 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 at an annual rate of 6.9% if each index closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the coupon if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the final coupon if each index finishes at or above the 70% downside threshold. If any index falls beyond the threshold, investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | S&P 500 Value index, Euro Stoxx 50 index
|
| Amount: | $6,446,000
|
| Maturity: | May 11, 2032
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| Coupon: | 6.9%, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold, par plus final coupon; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 1,468.51 for S&P Value, 3,629.17 for Stoxx
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| Coupon barriers: | 70% of initial levels
|
| Downside thresholds: | 70% of initial levels
|
| Pricing date: | May 6
|
| Settlement date: | May 11
|
| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 36263Q314
|
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