Chicago, July 15 – GS Finance Corp. priced $110,000 of autocallable contingent coupon notes due Oct. 15, 2020 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon if each index closes at or above its 70% coupon trigger level on the determination date for that quarter. The coupon will be at an annualized rate of 7.6%.
After six months, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus any coupon due unless either index finishes below 70% of its initial level during the life of the notes and one index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
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 indexes: | Euro Stoxx 50, Russell 2000
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Amount: | $110,000
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Maturity: | Oct. 15, 2020
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Contingent coupon: | Payable quarterly if each index closes at or above 70% coupon trigger level on the determination date for that quarter; annual coupon rate is 7.6%
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Price: | Par
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Payout at maturity: | Par unless either index finishes below 70% of its initial level during the life of the notes and one index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
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Call: | After six months, automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date
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Initial index levels: | 3,473.69 for Stoxx and 1,566.572 for Russell
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Pricing date: | June 28
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Settlement date: | July 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.1%
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Cusip: | 40056FKM6
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