By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – GS Finance Corp. priced $1.14 million of autocallable contingent coupon notes due Oct. 3, 2028 linked to the Euro Stoxx 50 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 quarterly coupon of 7.25% per annum if each index closes at or above its 75% coupon trigger level on the determination date for that quarter.
Beginning in September 2019, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
If each index finishes at or above its 75% coupon trigger level, the payout will be par plus the final contingent coupon.
Investors will receive par if either index falls below 75% but not below 50% and will lose 1% for each 1% decline of the lesser-performing index from its initial level if any index finishes below 50% of its initial level.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000, S&P 500
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| Amount: | $1,144,000
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| Maturity: | Oct. 3, 2028
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| Contingent coupon: | 7.25% annualized, payable quarterly if each index closes at or above 75% coupon trigger level on the determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon trigger level, par plus contingent coupon; if any index falls by more than 25% but not below 50%, par; otherwise, 1% loss for each 1% decline of lesser-performing index
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date beginning in September 2019
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| Initial index levels: | 2,905.97 for S&P, 3,433.15 for Euro Stoxx and 1,691.608 for Russell 2000
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 28
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 5.45%
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| Cusip: | 40055QWA6
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