By Wendy Van Sickle
Columbus, Ohio, April 6 – GS Finance Corp. priced $15.05 million of callable buffered contingent coupon notes due April 9, 2019 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 will be guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.7% if each index’s closing level is greater than or equal to 90% of its initial level on the observation date for that quarter.
The payout at maturity will be par unless the return of either underlying is less than negative 10%, in which case investors will lose 1% for every 1% that the lesser-performing underlying declines beyond 10%.
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 contingent coupon notes
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Underlyings: | S&P 500 index and Russell 2000 index
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Amount: | $15.05 million
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Maturity: | April 9, 2019
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Contingent coupon: | 9.7% per year, payable quarterly if each underlying closes at or above buffer level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either underlying finishes below 90% of initial level, in which case 1% loss for each 1% lower performing underlying falls beyond 10%
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Initial levels: | 2,640.87 for S&P 500 and 1,529.427 for Russell
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Buffer levels: | 90% of initial levels
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Pricing date: | March 29
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Settlement date: | April 4
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Agent: | Goldman Sachs & Co.
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Fees: | 0.35%
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Cusip: | 40055AV87
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