By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – GS Finance Corp. priced $1 million of callable contingent coupon notes due Feb. 16, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annual rate of 8.4% if the index closes at or above 75% of its initial level on the related observation date.
The notes are callable at par on any coupon payment date after six months.
The payout at maturity will be par plus the final coupon, if any, unless the index declines by more than 30%, in which case investors will lose 1% for every 1% that the index declines 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: | Callable contingent coupon notes
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Underlying index: | S&P 500
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Amount: | $1 million
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Maturity: | Feb. 16, 2028
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Coupon: | 8.4%, payable each month that index closes at or above 75% of initial level on related observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon, if any, unless index declines by more than 30%, in which case 1% loss for every 1% that index declines from initial level
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Call option: | At par on any coupon payment date after six months
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Initial index level: | 2,662.94
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Pricing date: | Feb. 13
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Settlement date: | Feb. 16
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.95%
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Cusip: | 40055ALW5
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