By William Gullotti
Buffalo, N.Y., Sept. 2 – GS Finance Corp. priced $1.34 million of callable contingent coupon index-linked notes due June 22, 2023 tied to the Nasdaq-100 index, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6.1% if each index closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date.
If the notes have not been called, the payout at maturity will be par plus the final coupon if each index finishes at or above coupon trigger level.
If the least performing index finishes below the coupon trigger but at or above the 70% trigger buffer level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer 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 index-linked notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $1,341,000
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Maturity: | June 22, 2023
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Coupon: | 6.1% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus the final coupon if each index finishes at or above coupon trigger level; if the least performing index finishes below coupon trigger but at or above trigger buffer level, par; otherwise, lose 1% for every 1% decline of worst performer from its initial level
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Call: | At par plus any coupon due on any quarterly call observation date
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Initial index levels: | 4,166.45 for S&P, 2,237.745 for Russell, 14,049.58 for Nasdaq
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Trigger buffer levels: | 70% of initial levels
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Coupon trigger levels: | 80% of initial levels
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Pricing date: | June 18
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Settlement date: | June 23
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.5%
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Cusip: | 40057HN89
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