By Angela McDaniels
Tacoma, Wash., May 16 – GS Finance Corp. priced $956,000 of autocallable contingent coupon notes due Nov. 23, 2020 linked to the S&P 500 index, the Euro Stoxx 50 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 9.5% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
Beginning in November 2019, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless any index closes below its trigger level during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the worst-performing index.
Goldman Sachs & Co. LLC is the underwriter.
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: | S&P 500, Euro Stoxx 50 and Russell 2000
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Amount: | $956,000
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Maturity: | Nov. 23, 2020
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Coupon: | 9.5%, payable quarterly if each index closes at or above trigger level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index closes below trigger level during life of notes and any index finishes below initial level, in which case full exposure to decline of worst-performing index
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Call: | Beginning in November 2019, automatically at par if each index closes at or above initial levels on any coupon determination date
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Initial levels: | 2,834.41 for S&P 500, 3,364.38 for Euro Stoxx 50 and 1,543.058 for Russell 200
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Trigger levels: | 70% of initial levels
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Pricing date: | May 14
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Settlement date: | May 17
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.58%
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Cusip: | 40056FCY9
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