By Sarah Lizee
Olympia, Wash., May 1 – GS Finance Corp. priced $1.55 million of callable contingent coupon notes due April 30, 2029 linked to the Euro Stoxx 50 index, 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 75% of its initial level on the observation date for that period. The contingent coupon rate will be 8.75% per year for the first 20 coupon payment dates and 10% per year for the remaining coupon payment dates.
Beginning in October, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least 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: | Euro Stoxx 50, Russell 2000 and S&P 500
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Amount: | $1,551,000
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Maturity: | April 30, 2029
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Coupon: | 8.75% per year for the first 20 coupon payment dates and 10% per year for the remaining coupon payment dates; payable each quarter that each index’s closing level is greater than or equal to 75% 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 60% 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 October, at par on any coupon payment date
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Initial index levels: | 3,500.41 for Stoxx, 1,591.816 for Russell and 2,939.88 for S&P
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Pricing date: | April 26
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Settlement date: | April 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.66%
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Cusip: | 40056F7E9
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