By Sarah Lizee
Olympia, Wash., Jan. 9 – GS Finance Corp. priced $3.6 million of autocallable contingent coupon notes due April 6, 2021 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.75% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
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 either index closes below its trigger level during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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 S&P 500
|
| Amount: | $3,602,000
|
| Maturity: | April 6, 2021
|
| Coupon: | 8.75%, payable quarterly if each index closes at or above trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger level during life of notes and either index finishes below initial level, in which case 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Automatically at par if each index closes at or above initial levels on any coupon determination date
|
| Initial levels: | 1,664.150 for Russell 2000 and 3,221.29 for S&P 500
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 3
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 40056XUD6
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