By William Gullotti
Buffalo, N.Y., May 1 – GS Finance Corp. priced $3.81 million of autocallable contingent coupon index-linked notes due April 28, 2025 tied to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 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 annual rate of 7.7% if each index closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any monthly call observation date after six months.
If the notes are not called and each index finishes at or above its coupon trigger level, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon trigger level but at or above its 70% trigger buffer level, the payout will be par. Otherwise, investors will be exposed to the decline of the least-performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $3,814,000
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| Maturity: | April 28, 2025
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| Coupon: | 7.7% annualized rate, payable monthly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above coupon trigger level, par plus final coupon; if worst performer finishes below coupon trigger but at or above trigger buffer level, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | At par plus coupon if each index closes at or above its initial level on any monthly call observation date after six months
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| Initial index levels: | 4,967.23 for S&P, 1,947.656 for Russell, 17,037.65 for Nasdaq
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| Coupon trigger levels: | 80% of initial levels
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.075%
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| Cusip: | 40058A3U6
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