New York, May 13 – GS Finance Corp. priced $11.95 million of 0% autocallable absolute return notes due May 14, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes below 80% of its initial level on any day during the life of the notes, the notes will be automatically called at par.
A barrier event will occur if the index closes above 120% of its initial level on any day during the life of the notes.
If a barrier event has occurred, the payout at maturity will be par plus 3.65%.
If a barrier event has not occurred and the index return is greater than or equal to zero, the payout will be par plus the index return, subject to a maximum return of 20%.
If a barrier event has not occurred and the index return is less than zero but greater than or equal to negative 20%, the payout will be par plus the absolute value of the index return.
If a barrier event has not occurred and the index return is less than negative 20%, the payout will be par.
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 absolute return notes
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| Underlying index: | S&P 500
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| Amount: | $11.95 million
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| Maturity: | May 14, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par if index closes below 80% of its initial level on any day during the life of the notes
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| Payout at maturity: | If barrier event has occurred, par plus 3.65%; if barrier event has not occurred and index return is greater than or equal to zero, par plus index return, subject to maximum return of 20%; if barrier event has not occurred and index return is less than zero but greater than or equal to negative 20%, par plus absolute value of index return; if barrier event has not occurred and index return is less than negative 20%, par
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| Barrier event: | Index closes above 120% of initial level on any day during life of notes
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| Initial index level: | 4,001.05
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| Pricing date: | May 10
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| Settlement date: | May 17
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.1%
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| Cusip: | 40057LYW5
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