By Wendy Van Sickle
Columbus, Ohio, April 6 – GS Finance Corp. priced $882,000 of autocallable contingent coupon notes due Oct. 4, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 16.5% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date other starting after six months.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 70% trigger level, in which case investors will lose 1% for every 1% loss of the least-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Russell 2000 and S&P 500
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Amount: | $882,000
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Maturity: | Oct. 4, 2021
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Coupon: | 16.5%, payable quarterly if each index closes at or above 70% coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below initial level and ever closes below 70% trigger level, in which case 1% loss for every 1% that least-performing index declines from initial level
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Call: | Automatically at par if each index closes at or above initial levels on any coupon determination date after six months
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Initial levels: | 1,180.319 for Russell, 2,630.07 for S&P
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Coupon barriers/trigger levels: | 70% of initial levels
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.27%
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Cusip: | 40056YLR3
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