By Sarah Lizee
Olympia, Wash., March 23 – GS Finance Corp. priced $223,000 of autocallable contingent coupon notes due June 21, 2021 tied to the Dow Jones industrial average, Nasdaq-100 Technology Sector index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 9.305% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that period.
After six months, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date prior to maturity.
The payout at maturity will be par unless any index finishes below its initial level and any index has ever closed below its 70% trigger level on any day during the life of the notes, in which case investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 Technology Sector index and Russell 2000 index
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| Amount: | $223,000
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| Maturity: | June 21, 2021
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| Coupon: | 9.305% per year, payable each quarter that each index closes at or above its coupon trigger level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its trigger level on any day during the life of the notes, in which case investors will be fully exposed to the decline of the least performing index
|
| Call: | After six months, at par if each index closes at or above its initial level on any quarterly observation date prior to maturity
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| Initial levels: | 23,185.62 for Dow, 4,660.577 for Nasdaq, 1,210.135 for Russell
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| Coupon trigger levels: | 70% of initial levels
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| Trigger levels: | 70% of initial levels
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.225%
|
| Cusip: | 40056YLQ5
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