By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – GS Finance Corp. priced $813,000 of callable contingent coupon notes due Sept. 27, 2024 linked to the S&P 500 index and the Russell 2000 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 at a rate of 6.5% per year if each index closes at or above 80% of its initial level on the observation date for that period.
The notes are callable at par on any coupon payment date.
If the notes are not redeemed, the payout at maturity will be par plus the coupon unless either index finishes below 80% of its initial level, in which case investors will be exposed to the loss of the least performing index beyond 20%.
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: | S&P 500, Russell 2000
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Amount: | $813,000
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Maturity: | Sept. 27, 2024
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Coupon: | 6.5% per year; payable each six months that each index closes at or above 80% of its initial level on observation date for that period
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Price: | Par
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Payout at maturity: | Par plus coupon unless either index finishes below 80% of initial level, in which case exposure to loss of least performing index beyond 20%
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Call option: | At par on any coupon payment date
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Initial index levels: | 1,559.765 for Russell, 2,992.07 for S&P
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Pricing date: | Sept. 20
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Settlement date: | Sept. 27
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.85%
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Cusip: | 40056XB62
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