By Sarah Lizee
Olympia, Wash., Jan. 15 – GS Finance Corp. priced $2 million of callable contingent coupon notes due July 13, 2023 linked to the Russell 2000 index, the S&P 500 index and 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.
Each month, the notes pay a contingent coupon at an annualized rate of 9.85% if each index closes at or above 75% of its initial level on the observation date for that period.
Starting April 2020, the notes are callable at par on any coupon payment date except the final one.
If the notes are not redeemed, the payout at maturity will be par unless any index finishes below 70% of its initial level, in which case investors will be exposed to the loss of the least performing index.
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: | Russell 2000 index, S&P 500 index and Euro Stoxx 50 index
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Amount: | $2 million
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Maturity: | July 13, 2023
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Coupon: | 9.85%, payable each month that each index closes at or above 65% of its initial level on the observation date for that period
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Price: | Par
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Payout at maturity: | Par unless any index finishes below 70% of initial level, in which case exposure to loss of least performing index
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Call option: | Starting April 2020 at par on any coupon payment date except final one
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Initial index levels: | 3,789.52 for Stoxx, 1,657.643 for Russell, 3,265.35 for S&P
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Coupon levels: | 75% of initial levels
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | Jan. 10
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Settlement date: | Jan. 15
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.85%
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Cusip: | 40056YBL7
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