By Susanna Moon
Chicago, Sept. 13 – GS Finance Corp. priced $2.5 million of autocallable contingent coupon notes due Sept. 4, 2020 linked to the least performing of the common stocks of Deere & Co. and Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.6% if each stock closes at or above its 70% coupon barrier on review date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any interest payment date after six months.
The payout at maturity will be par unless either stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing stock.
Goldman Sachs Group, Inc. is the guarantor.
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 notes
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Underlying assets: | Deere & Co. (Symbol: DE) and Caterpillar Inc. (Symbol: CAT)
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Amount: | $2.5 million
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Maturity: | Sept. 4, 2020
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Coupon: | 8.6% annualized payable quarterly if each stock closes at or above 70% coupon barrier on review date that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless either stock finishes below 70% trigger, in which case 1% loss for each 1% decline of worse performing stock
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Call: | At par plus any coupon if each stock closes at or above its initial level on any contingent coupon payment date beginning in February 2018
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Initial levels: | $115.96 for Deere and $115.07 for Caterpillar
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Trigger levels: | 70% of initial levels
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.35%
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Cusip: | 40054LPL2
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