By Sarah Lizee
Olympia, Wash., Dec. 30 – GS Finance Corp. priced $1.92 million of callable contingent coupon underlier-linked notes due Dec. 30, 2022 linked to the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production ETF, 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 10% if each underlier closes at or above 60% of its initial level on the observation date for that period.
The notes are callable at par plus any coupon on any semiannual coupon payment date beginning in December 2020.
If the notes are not redeemed early, the payout at maturity will be par plus the coupon unless either underlier finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing underlier.
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: | Callable contingent coupon underlier-linked notes
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Underlying underliers: | Euro Stoxx 50 index and SPDR S&P Oil & Gas Exploration & Production ETF
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Amount: | $1,924,000
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Maturity: | Dec. 30, 2022
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Coupon: | 10% annualized, payable each quarter that each underlier closes at or above 60% of its initial level on the observation date for that period
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Price: | Par
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Payout at maturity: | Par plus coupon unless either underlier finishes below 60% of initial level, in which case full exposure to loss of least performing underlier
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Call option: | At par plus any coupon on any semiannual coupon payment date beginning in December 2020
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Initial index levels: | 3,776.56 for index and $23.22 for ETF
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Trigger levels: | 60% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.25%
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Cusip: | 40056XVB9
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