By William Gullotti
Buffalo, N.Y., Sept. 22 – GS Finance Corp. priced $1.93 million of 0% autocallable index-linked notes due Sept. 22, 2028 tied to the S&P 500 Futures Volatility Plus Daily Risk Control index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a 9.5004% annualized call premium if the index closes at or above its call level on any quarterly valuation date after one year. Call level starts at 100% of initial level and steps down by 25 basis points with each subsequent valuation.
If the notes are not called and the index at or above 88% of initial level, the payout at maturity will be par plus 47.502%.
If the index declines by more than 12% but finishes at or above the 85% buffer level, the payout will be par. Otherwise, investors will lose 1% for each 1% that the index declines below the buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying index: | S&P 500 Futures Volatility Plus Daily Risk Control index
|
| Amount: | $1,925,000
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| Maturity: | Sept. 22, 2028
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above 88% of initial level, par plus 47.502%; if the index declines by more than 12% but finishes at or above buffer level, par; otherwise, lose 1% for each 1% decline beyond 15%
|
| Call: | At par plus a 9.5004% annualized call premium if index closes at or above call level on any quarterly valuation date after one year; call level starts at 100% of initial level and steps down by 25 bps with each subsequent valuation
|
| Initial level: | 569.61
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| Buffer level: | 85% of initial level
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 20
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 40057W7H4
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