By Kiku Steinfeld
Chicago, March 10 – GS Finance Corp. priced $1.5 million of callable contingent coupon index-linked notes due Feb. 29, 2024 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 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 an annualized rate of 9% if each index closes at or above its 79% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date after six months.
If each index finishes above 79% of its initial level, the payout will be par plus the final coupon unless either index finishes below 79% of its initial level, in which case investors will be lose 1.2658% for each 1% decline of the least performing index beyond 21%.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
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: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1.5 million
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| Maturity: | Feb. 29, 2024
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| Contingent coupon: | 9% per year, payable monthly if each index closes at or above coupon trigger level on determination date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either index finishes below 79% of its initial level, in which case investors will lose 1.2658% for each 1% decline of least performing index beyond 21%.
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| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date after six months
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| Initial index levels: | 2,284.381 for Russell, 13,302.19 for Nasdaq and 31,961.86 for Dow
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| Coupon trigger: | 79% of initial levels
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| Pricing date: | Feb. 24
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| Settlement date: | March 1
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.525%
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| Cusip: | 40057FM76
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