By Wendy Van Sickle
Columbus, Ohio, May 3 – GS Finance Corp. priced $1.87 million of autocallable contingent coupon equity-linked securities due May 30, 2023 linked to the common stock of Microsoft Corp., 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 12.9% if the stock closes at or above the coupon barrier price, 78% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any monthly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 78% barrier price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% loss from the initial level.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Microsoft Corp.
|
| Amount: | $1,868,000
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| Maturity: | May 30, 2023
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| Coupon: | 12.9% annually, payable monthly, if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to barrier price, par plus final coupon; otherwise, full exposure to loss
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any monthly valuation date after six months
|
| Initial share price: | $274.03
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| Coupon barrier level: | 78% of initial level
|
| Barrier level: | 78% of initial level
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| Pricing date: | April 22
|
| Settlement date: | April 27
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| Agent: | Goldman Sachs & Co. LLC
|
| Placement agent: | JPMorgan
|
| Fees: | 0.65%
|
| Cusip: | 40057LSX0
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