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GS Finance plans seven-year autocallables on Motif National Defense
New York, May 24 – GS Finance Corp. plans to price 0% autocallable notes due June 12, 2025 linked to the Motif Capital National Defense 7 ER index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Beginning June 12, 2019, the notes will be automatically called at par plus an annual call return of 12% if the index closes at or above its call level on any annual call observation date. The call level will be 104% of the initial level for the first call observation date, stepping up by 400 basis points on each subsequent year to a final call level of 124% of the initial level for the sixth observation date on June 12, 2024.
The payout at maturity will be par plus any index gain.
If the index falls or remains flat, the payout will be par.
Goldman Sachs & Co. is the agent.
The notes will price on June 12 and settle on June 15.
The Cusip number is 40055QAV4.
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