By Wendy Van Sickle
Columbus, Ohio, March 31 – GS Finance Corp. priced $4.51 million of autocallable contingent coupon notes due April 13, 2026 linked to the S&P 500 index 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 quarterly coupon at an annual rate of 6.8% if each index closes at or above its coupon trigger level, 50% of its initial index level, on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any determination date from March 2017 to December 2025.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman, Sachs & Co. 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: | Russell 2000 and S&P 500
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| Amount: | $4.51 million
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| Maturity: | April 13, 2026
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 6.8% per year if each index’s closing level is greater than or equal to 50% of initial level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If return of each index is greater than or equal to negative 40%, par plus contingent coupon; if return of either index is less than negative 40%, full exposure to decline of lesser-performing index
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any determination date from March 2017 to December 2025
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| Initial levels: | 2,055.01 for S&P 500 and 1,109.082 for Russell 2000
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| Coupon/trigger level: | 1,027.505 for S&P 500 and 554.541 for Russell 2000, 50% of initial levels
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 3.7%
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| Cusip: | 40054K5H5
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