By William Gullotti
Buffalo, N.Y., March 9 – GS Finance Corp. priced $3.47 million of 0% contingent coupon underlier-linked notes due March 7, 2023 linked to the performance of Wheaton Precious Metals Corp. stock, Franco-Nevada Corp. stock and the SPDR Gold Trust, 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 quarterly contingent coupon at an annual rate of 20.65% if each underlier closes at or above its 80% coupon trigger level on every trading day during the observation period.
If each underlier finishes at or above its 80% trigger buffer level, the payout at maturity will be par plus any final coupon otherwise due.
Otherwise, investors will be fully exposed to the decline of the least performer from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent coupon underlier-linked notes
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| Underlying assets: | Wheaton Precious Metals Corp., Franco-Nevada Corp., SPDR Gold Trust
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| Amount: | $3,472,000
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| Maturity: | March 7, 2023
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| Coupon: | 20.65% annual rate, payable quarterly if all underliers close at or above coupon trigger levels on every trading day during the observation period
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| Price: | Par
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| Payout at maturity: | Par plus any final coupon due if all underliers finish at or above trigger buffer level; otherwise, full exposure to decline of worst performer from its initial level
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| Initial levels: | $45.31 for Wheaton, $151.24 for Franco-Nevada, $179.73 for ETF
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| Coupon trigger levels: | 80% of initial levels
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| Trigger buffer levels: | 80% of initial levels
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| Strike date: | March 2
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057LFL0
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