By Kiku Steinfeld
Chicago, May 3 – GS Finance Corp. priced $535,000 of callable contingent coupon index-linked notes due April 18, 2025 linked to the least performing of the Nasdaq-100 index, 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 6% if each index closes at or above its 80% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date after six months.
If each index finishes above 70% of its initial level, the payout will be par plus any final coupon unless either index finishes below 70% of its initial level, in which case investors will be lose 1.4286% for each 1% decline of the least performing index beyond 30%.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $535,000
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| Maturity: | April 18, 2025
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| Contingent coupon: | 6% per year, payable quarterly if each index closes at or above coupon trigger level on determination date
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| Price: | Par
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| Payout at maturity: | Par plus any final coupon unless either index finishes below buffer level, in which case investors will lose 1.4286% for each 1% decline of least performing index beyond buffer
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| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date after six months
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| Initial index levels: | 2,257.068 for Russell, 4,170.42 for S&P, 14,026.19 for Nasdaq
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| Coupon trigger: | 80% of initial levels
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| Buffer levels: | 70% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057FZ23
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