By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – GS Finance Corp. priced $2.28 million of callable contingent coupon notes due Feb. 15, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes pay a contingent coupon if each index’s closing level is greater than or equal to 55% of its initial level on the observation date for that period. The contingent coupon rate will be 5% per year.
Beginning in August 2019, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless either index declines by more than 45%, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Goldman Sachs & Co. is the underwriter.
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 indexes: | Russell 2000 and S&P 500
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Amount: | $2,279,000
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Maturity: | Feb. 15, 2024
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Coupon: | 5% per year; payable semiannually if each index’s closing level is greater than or equal to 55% of initial level on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless either index declines by more than 45%, in which case 1% loss for every 1% that lesser-performing index declines from initial level
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Call option: | Beginning in August 2019, at par on any coupon payment date
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Initial index levels: | 1,569.247 for Russell and 2,775.60 for S&P
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Pricing date: | Feb. 15
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Settlement date: | Feb. 22
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Underwriter: | Goldman Sachs & Co.
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Fees: | 2.3%
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Cusip: | 40056EUN6
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