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Published on 12/2/2019 in the Prospect News Structured Products Daily.

New Issue: GS Finance prices $6.08 million autocallables linked to Russell, FTSE

By Angela McDaniels

Tacoma, Wash., Dec. 2 – GS Finance Corp. priced $6.08 million of 0% autocallable notes due Nov. 26, 2024 linked to the Russell 2000 index and the FTSE 100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a call premium of 9.1% per year if each index closes at or above its call level on any quarterly call observation date. For each index, the call level is 100% of its initial level on the first through fifth call observation dates and 95% of its initial level for any call observation date after the fifth one.

If the notes are not called and the final level of each index is greater than or equal to 95% of its initial level, the payout at maturity will be par plus 45.5%.

If the final level of either index is less than 95% of its initial level but the final level of each index is greater than or equal to 70% of its initial level, the payout will be par.

If the final level of either index is less than 70% of its initial level, 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 agent.

Issuer:GS Finance Corp.
Guarantor:Goldman Sachs Group, Inc.
Issue:Autocallable notes
Underlying indexes:Russell 2000 and FTSE 100
Amount:$6,075,000
Maturity:Nov. 26, 2024
Coupon:0%
Price:Par
Payout at maturity:If notes are not called and final level of each index is greater than or equal to 95% of initial level, par plus 45.5%; if final level of either index is less than 95% of initial level but final level of each index is greater than or equal to 70% of initial level, par; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
Call:Automatically at par plus call premium of 9.1% per year if each index closes at or above call level on any quarterly call observation date; for each index, call level is 100% of initial level on first through fifth call observation dates and 95% of initial level for any call observation date after fifth one
Initial levels:1,624.231 for Russell 2000 and 7,403.14 for FTSE 100
Pricing date:Nov. 26
Settlement date:Nov. 29
Agent:Goldman Sachs & Co. LLC
Fees:3.41%
Cusip:40056XSD9

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