By Susanna Moon
Chicago, Feb. 24 – GS Finance Corp. priced $2.06 million of autocallable contingent coupon notes due March 9, 2026 linked to the S&P 500 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 monthly coupon at an annualized rate of 9% if the index closes at or above the 75% coupon barrier level on the determination date for that month.
The notes will be called at par if the index closes at or above its 115% call level on any observation date.
The payout at maturity will be par the contingent coupon unless the index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Issue: | Autocallable contingent coupon notes
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Underlying index: | S&P 500
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Amount: | $2,055,000
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Maturity: | March 9, 2026
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Coupon: | 9% annualized, payable monthly if index closes at or above barrier level on determination date for that month
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless index finishes below trigger level, in which case full exposure to any losses
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Call: | At par if the index closes at or above its 115% call level on any observation date
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Initial level: | 1,945.50
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Coupon barrier: | 1,459.125, 75% of initial level
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Trigger level: | 60% of initial level
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Call level: | 115% of initial level
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Pricing date: | Feb. 22
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Settlement date: | Feb. 25
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.45%
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Cusip: | 40054K3F1
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