By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – GS Finance Corp. priced $1.5 million of autocallable contingent coupon notes due Sept. 1, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes will pay a contingent coupon at the rate of 7.8% per year if the index closes at or above its 75% trigger level on the observation date for that period.
The notes will be called if the index closes above its initial level on any determination date.
The payout at maturity will be par unless the index finishes below its trigger level, in which case investors will be fully exposed to the decline of the index from its initial level.
Goldman Sachs & Co. is the underwriter.
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 index: | Russell 2000
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Amount: | $1.5 million
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Maturity: | Sept. 1, 2022
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Coupon: | 7.8%, payable semiannually if each index closes at or above trigger level on observation date for that period
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Price: | Par
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Payout at maturity: | Par plus final coupon, unless index finishes below 75% of initial level, in which case full exposure to loss of index
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Call: | At par if index closes above initial level on any observation date
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Initial level: | 1,383.681
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Trigger level: | 1,037.76075; 75% of initial level
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Pricing date: | Aug. 29
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Settlement date: | Sept. 1
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.35%
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Cusip: | 40054LQ23
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