By Sarah Lizee
Olympia, Wash., July 6 – GS Finance Corp. priced $1.63 million 8.2% autocallable fixed-coupon notes due Dec. 30, 2021 linked to the lesser performing of the S&P 500 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.
Interest is payable semiannually.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any semiannual call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless either index finishes below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%.
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 fixed-coupon notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $1,625,000
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Maturity: | Dec. 30, 2021
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Coupon: | 8.2%, payable semiannually
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Price: | Par
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Call: | At par plus the coupon if each index closes at or above its initial level on any semiannual call observation date after six months
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Payout at maturity: | If the notes are not subject to an automatic call, the payout at maturity will be par unless either index finishes below 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the lesser performing index beyond 20%
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Initial levels: | 3,050.33 for S&P and 1,389.741 for Russell
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Buffer levels: | 80% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.35%
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Cusip: | 40057CCM1
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