By William Gullotti
Buffalo, N.Y., Oct. 7 – GS Finance Corp. priced $4.9 million of callable contingent coupon index-linked notes due July 24, 2025 tied to the MSCI Emerging Markets index, the S&P 500 index and the Russell 2000 Value 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 annual rate of 8.35% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date.
If the notes are not called and each index finishes at or above its coupon trigger level, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below the coupon trigger but at or above its 70% trigger buffer level, the payout at maturity will be par. Otherwise, investors will lose 1.4286% for every 1% decline of the worst performer beyond 30%
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 Value index, MSCI Emerging Markets index
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| Amount: | $4.9 million
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| Maturity: | July 24, 2025
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| Coupon: | 8.35% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above coupon trigger, par plus final coupon; if the worst performer lags below its coupon trigger but finishes at or above trigger buffer level, par; otherwise, investors will lose 1.4286% for every 1% decline of the worst performer below 30%
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| Call: | At par plus any coupon due on any quarterly call observation date
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| Initial index levels: | 4,323.06 for S&P, 2,353.729 for Russell Value, 1,311.07 for MSCI EM
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| Trigger buffer levels: | 70% of initial levels
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| Coupon trigger levels: | 75% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 23
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057HX62
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