By Wendy Van Sickle
Columbus, Ohio, Nov. 10 – GS Finance Corp. priced $15.43 million of trigger autocallable contingent yield notes due Nov. 10, 2031 linked to the least performing of the MSCI Emerging Markets index and the Russell 2000 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 6.65% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the related observation date.
The notes will be automatically called at par plus coupon if each index closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and the final level of each index is greater than or equal to the downside threshold level, 75% of the initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger autocallable contingent yield notes
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Underlying indexes: | MSCI Emerging Markets index, Russell 2000 Value index
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Amount: | $15,432,440
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Maturity: | Nov. 10, 2031
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Coupon: | 6.65% per year, paid quarterly, if each index closes at or above its coupon barrier on any related observation date
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Price: | Par of $10
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Payout at maturity: | Par plus final coupon unless any index finishes below downside threshold level, in which case 1% loss for each 1% decline of laggard index from initial level
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Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly call observation date after one year
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Initial levels: | 1,264.07 for EM, 2,641.096 for Russell
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Coupon barrier levels: | 75% of initial levels
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Downside thresholds: | 75% of initial levels
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Pricing date: | Nov. 5
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Settlement date: | Nov. 10
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Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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Fees: | 3.5%
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Cusip: | 36261U630
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