By Marisa Wong
Morgantown, W.Va., April 15 – GS Finance Corp. priced $855,000 of callable contingent coupon notes due March 28, 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 quarter, the notes pay a contingent coupon if each index’s closing level is greater than or equal to 65% of its initial level on the observation date for that period. The contingent coupon rate will be 5.15% per year.
Beginning in March 2020, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless either index finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. LLC 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: | $855,000
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Maturity: | March 28, 2024
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Coupon: | 5.15% per year; payable each quarter that each index’s closing level is greater than or equal to 65% 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 finishes below 65% of its initial level, in which case investors will be fully exposed to any losses of the lesser performing index
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Call option: | Beginning in March 2020, at par on any coupon payment date
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Initial index levels: | 1,512.864 for Russell and 2,798.36 for S&P
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Pricing date: | March 25
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Settlement date: | March 28
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.47%
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Cusip: | 40056EZ35
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