Chicago, March 30 – GS Finance Corp. priced $5.36 million of autocallable contingent coupon notes due June 25, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 21% if each index closes at or above its coupon barrier, 50% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date other starting after six months.
The payout at maturity will be par unless either index finishes below its initial level and either index ever closes below its 50% trigger level during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Autocallable contingent coupon notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $5,362,000
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Maturity: | June 25, 2021
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Coupon: | 21%, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below initial level and ever closes below trigger level, in which case 1% loss for every 1% that least-performing index declines from initial level
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Call: | Automatically at par if each index closes at or above initial levels on any coupon determination date after six months
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Initial levels: | 2,398.10 for S&P, 991.164 for Russell
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Coupon barriers: | 50% of initial levels
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Trigger levels: | 50% of initial levels
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Pricing date: | March 18
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Settlement date: | March 23
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.35%
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Cusip: | 40056YUY8
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