By Susanna Moon
Chicago, March 13 – GS Finance Corp. priced $928,000 of callable contingent coupon notes due Aug. 28, 2023 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 5.25% if each index closes at or above its 55% coupon barrier on the observation date for that month.
The notes are callable at par n any interest payment date after one year.
The payout at maturity will be par unless either index closes below its 55% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
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 notes
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Underlying assets: | Russell 2000 and S&P 500
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Amount: | $928,000
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Maturity: | Aug. 28, 2023
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Coupon: | 5.25% annualized, payable monthly if each index closes at or above 55% coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | If each index finishes at or above 55% downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
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Call option: | At par on any interest payment date from February 2019 through May 2023
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Initial levels: | 2,747.30 for S&P and 1,549.186 for Russell
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Trigger levels: | 55% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.79%
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Cusip: | 40055AKC0
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