By William Gullotti
Buffalo, N.Y., Jan. 18 – GS Finance Corp. priced $2.93 million of autocallable contingent coupon index-linked notes due July 19, 2023 tied to 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 8.5% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date after six months.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% trigger buffer level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below 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 index-linked notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $2.93 million
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Maturity: | July 19, 2023
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Coupon: | 8.5% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
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Price: | Par
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Payout at maturity: | Par unless any index closes below its trigger buffer level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date after six months
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Initial index levels: | 4,726.35 for S&P, 2,176.057 for Russell, 15,905.1 for Nasdaq
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Trigger buffer levels: | 70% of initial levels
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Coupon trigger levels: | 70% of initial levels
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Pricing date: | Jan. 12
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Settlement date: | Jan. 18
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.23%
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Cusip: | 40057KNB5
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