By Wendy Van Sickle
Columbus, Ohio, March 2 – GS Finance Corp. priced $8.75 million of callable buffered monthly range accrual notes due Aug. 28, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 5.9% annualized for each day that the index closes at or above 80% coupon barrier, payable monthly.
The notes will be callable at par on any interest payment date after one year.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will be exposed to any losses beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable buffered monthly range accrual notes
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Underlying index: | Russell 2000
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Amount: | $8.75 million
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Maturity: | Aug. 28, 2025
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Coupon: | 5.9% annualized for each day that each index closes at or above 80% coupon barrier, payable monthly
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Price: | Par
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Payout at maturity: | Par unless index falls by more than 20%, in which case exposure to any losses beyond 20%
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Call option: | At par plus interest on any interest payment date beginning Feb. 28, 2019
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Initial level: | 1,559.332
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Coupon barrier: | 1,247.4656, 80% of initial level
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Pricing date: | Feb. 26
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co.
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Fees: | 4.9%
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Cusip: | 40055AJD0
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