By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – GS Finance Corp. priced $2 million of callable monthly range accrual notes due Oct. 3, 2028 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 10.8% annualized for each day that the ETF closes at or above 80% coupon barrier, payable monthly.
The notes will be callable at par on any interest payment date beginning April 3, 2019.
The payout at maturity will be par unless the ETF falls by more than 40%, in which case investors will be fully exposed to the decline.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable monthly range accrual notes
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $2 million
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Maturity: | Oct. 3, 2028
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Coupon: | 10.8% annualized for each day that ETF closes at or above 80% coupon barrier, payable monthly
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Price: | Par
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Payout at maturity: | Par unless ETF falls by more than 40%, in which case, full exposure to decline
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Call option: | At par plus interest on any interest payment date beginning April 3, 2019
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Initial level: | $42.92
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Coupon barrier: | $34.336, 80% of initial level
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | Goldman Sachs & Co.
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Fees: | 0.45%
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Cusip: | 40056E2F4
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