By Taylor Fox
New York, Nov. 18 – GS Finance Corp. priced $1.1 million of autocallable contingent coupon notes due Nov. 6, 2028 linked to the lowest performing of the S&P 500 index, the Russell 2000 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 quarterly coupon at an annual rate of 5% if each index closes at or above its 70% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 5%.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par plus any coupon due unless either index finishes below 65% of its initial level, in which case investors will be exposed to the decline of the least 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: | Autocallable contingent coupon notes
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Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100 index
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Amount: | $1,101,000
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Maturity: | Nov. 6, 2028
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Contingent coupon: | 5% annual rate, payable quarterly if each index closes at or above coupon trigger level on the determination date for that period
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Price: | Par
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Payout at maturity: | Par plus any coupon due unless either index finishes below trigger buffer level, in which case investors will be exposed to the decline of the least performing index from its initial level
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after one year
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Initial index levels: | 1,538.479 for Russell, 3,269.96 for S&P, 11,052.95 for Nasdaq
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Coupon trigger levels: | 70% of initial levels
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Trigger buffer levels: | 65% of initial levels
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.4%
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Cusip: | 40057EHB6
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