By William Gullotti
Buffalo, N.Y., Nov. 4 – GS Finance Corp. priced $1.62 million of autocallable contingent coupon index-linked notes due Nov. 2, 2027 tied to 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 monthly coupon at an annual rate of 10.6% 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 monthly call observation date after one year.
If the notes are not called and each index finishes 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 each 1% decline of the worst performer beyond 15%.
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: | Autocallable contingent coupon index-linked notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $3,027,000
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Maturity: | Nov. 2, 2027
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Coupon: | 10.6% annualized rate, payable monthly 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: | If each index finishes at or above trigger buffer level, par plus final coupon; otherwise, 1% loss for each 1% decline of the worst performer beyond 15%
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Call: | At par plus coupon if each index closes at or above its initial level on any monthly call observation date after one year
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Initial index levels: | 3,830.6 for S&P, 1,804.331 for Russell
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Trigger buffer levels: | 85% of initial levels
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Coupon trigger levels: | 85% of initial levels
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.75%
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Cusip: | 40057NND5
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