By Angela McDaniels
Tacoma, Wash., Oct. 4 – GS Finance Corp. priced $1.17 million of autocallable contingent coupon notes due April 6, 2027 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at an annual rate of 6.85% if each index closes at or above its trigger level, 80% of its initial level, on the observation date for that month.
Beginning in September 2020, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless the return of either index is less than negative 20%, in which case investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $1,165,000
|
| Maturity: | April 6, 2027
|
| Coupon: | 6.85%, payable monthly if each index closes at or above trigger level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless return of either index is less than negative 20%, in which case 1% loss for every 1% that lesser-performing index declines beyond 20%
|
| Call: | Beginning in September 2020, automatically at par if each index closes at or above initial levels on any coupon determination date
|
| Initial levels: | 1,533.326 for Russell 2000 and 3,532.18 for Euro Stoxx 50
|
| Trigger levels: | 80% of initial levels
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 30
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4.15%
|
| Cusip: | 40056XDZ6
|
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