By William Gullotti
Buffalo, N.Y., Oct. 18 – GS Finance Corp. priced $3.23 million of autocallable contingent coupon index-linked notes due July 30, 2026 tied to the Russell 2000 index and the Nasdaq-100 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 monthly coupon at an annual rate of 5% if each index closes at or above the coupon trigger level, 85% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date after one year.
If the notes are not called and each index closes at or above the 85% trigger buffer level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $3,229,000
|
| Maturity: | July 30, 2026
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| Coupon: | 5% annualized rate, payable monthly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger buffer level, par plus final coupon; if any index falls by more than 15%, lose 1% for every 1% decline of worst performer below 15%
|
| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date after one year
|
| Initial index levels: | 2,209.649 for Russell, 15,111.79 for Nasdaq
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| Trigger buffer level: | 85% of initial levels
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| Coupon trigger level: | 85% of initial levels
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| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.85%
|
| Cusip: | 40057HWY2
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