Chicago, April 15 – GS Finance Corp. priced $1.31 million of callable contingent coupon index-linked notes due Oct. 8, 2027 linked to the S&P 500 index and the Dow Jones industrial average, 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 monthly coupon at an annualized rate of 7.65% if each index closes at or above its 80% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due on any coupon payment date from April 2021 and ending in September 2027.
If the notes are not called, the payout will be par plus any final coupon due if each index finishes at or above 80% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worse performing index beyond the 20% buffer.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon index-linked notes
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Underlying indexes: | S&P 500, Dow Jones industrial average
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Amount: | $1,310,000
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Maturity: | Oct. 8, 2027
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Contingent coupon: | 7.65% per year, payable monthly if each index closes at or above coupon trigger level on determination date for period
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Price: | Par
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Payout at maturity: | Par plus any final coupon if each index finishes at or above its 80% buffer level; otherwise, 1% loss for every 1% decline of the worse performing index beyond the 20% buffer
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Call option: | At par plus any contingent coupon due on any coupon payment date from April 2021 and ending in September 2027
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Initial index levels: | 2,488.65 for Russell, 21,052.53 for Dow
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Coupon trigger levels: | 80% of initial levels
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Trigger buffer levels: | 80% of initial levels
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Pricing date: | April 3
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Settlement date: | April 8
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.15%
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Cusip: | 40056YYG3
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