By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – GS Finance Corp. priced $1.84 million of 0% autocallable underlier-linked notes due Aug. 29, 2022 based on the performance of the iShares MSCI Emerging Markets exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
After the first year, the notes will be automatically called at par plus a 14% annualized call premium if both components close at or above their call levels on any annual call observation date.
The call level will be equal to the initial levels on the first observation date and will step down by 250 basis points on each subsequent date.
If the notes are not called and both components finish at or above 92.5% of their initial levels, the payout at maturity will be $1,560 per $1,000 principal amount.
If either or both components finish below 92.5% of their initial levels but the return of each component is at least negative 30%, the payout will be $1,100 per $1,000 principal amount.
If the return of either component is less than negative 30%, the payout will be par plus the return of the lesser performing component, with full exposure to losses.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable underlier-linked notes
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| Underlying components: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index
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| Amount: | $1.84 million
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| Maturity: | Aug. 29, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If both components finish at or above 92.5% of their initial levels, $1,560 per $1,000 note; if either or both components finish below 92.5% of their initial levels but the return of each component is at least negative 30%, $1,100 per $1,000 principal amount; if return of either component is less than negative 30%, full exposure to losses of the lesser performing component
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| Call: | At par plus 14% annualized call premium if both components close at or above their call levels on a annual call observation date after a year; call level is equal to initial level on first observation date and steps down by 250 basis points on each subsequent observation date
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| Initial levels: | $43.28 for EM ETF and 3,420.18 for Stoxx
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 29
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| Agent: | Goldman, Sachs & Co.
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| Fees: | 0.3%
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| Cusip: | 40055QT85
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