By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – GS Finance Corp. priced $9.11 million of 0% trigger absolute return step securities due Oct. 31, 2022 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of the step return of 46.5% and the index return.
If the final index level is less than the initial index level but greater than or equal to the downside threshold level, 70% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than the downside threshold level, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger absolute return step securities
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Underlying index: | Euro Stoxx 50
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Amount: | $9,112,060
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Maturity: | Oct. 31, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the final index level is greater than or equal to the initial index level, par plus the greater of 46.5% and the index return; if the final index level is less than the initial index level but greater than or equal to the downside threshold level, par plus the absolute value of the index return; otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level
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Initial index level: | 3,652.23
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Downside threshold: | 2,556.56, 70% of initial level
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Pricing date: | Oct. 27
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Settlement date: | Oct. 31
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Agent: | Goldman, Sachs & Co.
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Fees: | 3.85%
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Cusip: | 36254F137
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