Chicago, April 8 – GS Finance Corp. priced $4.14 million of contingent income callable securities due Sept. 22, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 17.75% per year if each index closes at or above its coupon barrier, 75% of its initial level, on each day during the quarterly coupon observation period.
The notes are callable at par plus the coupon, if any, on any quarterly coupon payment date after one year.
If each index finishes at or above its downside threshold level, 75% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to decline of the least-performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group Inc.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group Inc.
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Issue: | Contingent income callable securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $4,140,000
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Maturity: | Sept. 22, 2022
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Coupon: | 17.75% per year, payable quarterly if each index closes at or above coupon barrier level on each day during the quarterly coupon observation period
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold level, par plus coupon; otherwise, full exposure to least-performing index’s decline from initial level
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Call option: | Callable at par plus any coupon on any quarterly coupon payment date after one year
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Initial levels: | 2,398.10 for S&P and 991.164for Russell
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Coupon barriers: | 1,798.575 for S&P and 743.373 for Russell; 75% of initial levels
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Downside thresholds: | 1,798.575 for S&P and 743.373 for Russell; 75% 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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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.675%
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Cusip: | 40056YVP6
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