By Kiku Steinfeld
Chicago, Nov. 18 – GS Finance Corp. priced $1 million of callable contingent coupon index-linked notes due Sept. 21, 2023 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, 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 annual rate of 9% if each index closes at or above its coupon barrier, 76.7% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly call valuation date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below its 76.7% barrier, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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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Indexes: | S&P 500 index and Nasdaq-100 index
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Amount: | $1,000,000
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Maturity: | Sept. 21, 2023
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Coupon: | 9%, payable monthly if each index closes at or above coupon barrier on observation date
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Price: | Par
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Call option: | At par plus any coupon due on any quarterly call valuation date after one year
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Payout at maturity: | Par plus coupon if both indexes finish above barrier levels; otherwise 1% for each 1% decline of worse performing index from initial level
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Initial levels: | 3,319.47 for S&P and 10,936.980 for Nasdaq
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Coupon barriers: | 76.7% of initial levels
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Barrier values: | 76.7% of initial levels
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Pricing date: | Sept. 18
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Settlement date: | Sept. 23
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.525%
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Cusip: | 40057CWZ0
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