By Wendy Van Sickle
Columbus, Ohio, Dec. 2 – GS Finance Corp. priced $3.34 million of callable contingent coupon ETF-linked notes due Nov. 27, 2023 linked to the lesser performing of the SPDR S&P Biotech ETF and the Technology Select Sector SPDR fund, 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 semiannual coupon at annual rate of 9% if each ETF closes at or above its coupon barrier, 65% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any semiannual call valuation date.
The payout at maturity will be par plus the final coupon unless either ETF finishes below its 65% barrier, in which case investors will lose 1% for each 1% decline of the worst performing ETF 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: | Callable contingent coupon ETF-linked notes
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ETFs: | SPDR S&P Biotech ETF and Technology Select Sector SPDR fund
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Amount: | $3,342,000
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Maturity: | Nov. 27, 2023
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Coupon: | 9%, payable semiannually if each ETF closes at or above coupon barrier on observation date
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Price: | Par
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Call option: | At par plus any coupon due on any semiannual call valuation date
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Payout at maturity: | Par plus coupon if both ETFs finish above barrier levels; otherwise 1% for each 1% decline of worse performing ETF from initial level
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Initial levels: | $126.04 for S&P Biotech and $120.11 for Technology
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Coupon barriers: | 65% of initial levels
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Barrier values: | 65% of initial levels
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Pricing date: | Nov. 20
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Settlement date: | Nov. 25
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.25%
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Cusip: | 40057EMS3
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