By Wendy Van Sickle
Columbus, Ohio, June 16 – GS Finance Corp. priced $10.4 million of autocallable contingent coupon index-linked notes due June 11, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes at or above its 75% coupon trigger level on a quarterly determination date, the notes will pay a coupon per $1,000 principal amount of notes equal to the product of $29 times the number of coupon observation dates that have occurred up to and including the relevant coupon observation date minus the sum of all coupons previously paid, if any. The contingent coupon rate is equivalent to 11.6% per annum
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus a coupon of $116 minus the sum of all coupons previously paid, if any, unless the index finishes below its coupon trigger level, in which case investors will be fully exposed to the loss of the index.
Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $10,395,000
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| Maturity: | June 11, 2021
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| Coupon: | If index closes at or above coupon trigger level on quarterly determination date, $29 times number of coupon observation dates that have occurred up to and including relevant coupon observation date minus sum of all coupons previously paid, if any
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon of $116 minus sum of all coupons previously paid, if any, unless index finishes below coupon trigger level, in which case investors will be fully exposed to loss of index
|
| Call: | At par plus the contingent coupon if index closes at or above its initial level on any quarterly determination date
|
| Initial index level: | 3,002.1
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| Coupon trigger: | 75% of initial level
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| Pricing date: | June 12
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| Settlement date: | June 17
|
| Underwriter: | Goldman Sachs & Co. LLC
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| Placement agent: | JPMorgan
|
| Fees: | 1.1%
|
| Cusip: | 40057CB67
|
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