Chicago, May 21 – GS Finance Corp. priced $1.4 million of callable contingent coupon notes due May 3, 2024 linked to the Russell 2000 index and 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 quarter, the notes pay a contingent coupon at a rate of 6.25% per year if each index closes at or above 60% of its initial level on the observation date for that quarter.
The notes are callable at par on any coupon payment date.
If each index finishes at or above 60% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worse performing index.
Goldman Sachs & Co. LLC 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 indexes: | Russell 2000 and S&P 500
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Amount: | $1,402,000
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Maturity: | May 3, 2024
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Coupon: | 6.25% per year; payable each quarter that each index closes at or above 60% of its initial level on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless either index falls by more than 40%, in which case full exposure to decline of worse performing index
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Call option: | At par on any coupon payment date
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Initial levels: | 1,591.211 for Russell and 2,945.83 for S&P
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Trigger level: | 60% of initial underlier level
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Pricing date: | April 30
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Settlement date: | May 3
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.181%
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Cusip: | 40056FAQ8
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