By Sarah Lizee
Olympia, Wash., Jan. 24 – GS Finance Corp. priced $550,000 of autocallable contingent coupon notes due July 28, 2027 linked to the Nasdaq-100 index and the Dow Jones U.S. Select Dividend 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 monthly coupon if each index closes at or above its 80% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 4%.
Starting January 2021 and ending in June 2027, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly determination date.
The payout at maturity will be par plus any coupon due unless either index finishes below 80% of 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: | Nasdaq-100 index and Dow Jones U.S. Select Dividend index
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Amount: | $550,000
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Maturity: | July 28, 2027
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Contingent coupon: | Payable monthly if each index closes at or above 80% coupon trigger level on the determination date for that period; annual coupon rate is 4%
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Price: | Par
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Payout at maturity: | Par plus any coupon due unless either index finishes below 80% of 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: | Starting January 2021 and ending in June 2027, automatically at par plus contingent coupon if each index closes at or above initial level on any monthly call observation date
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Initial index levels: | 9,166.628 for Nasdaq, 763.64 for Dow
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Pricing date: | Jan. 21
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Settlement date: | Jan. 24
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.15%
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Cusip: | 40056YB94
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