By Sarah Lizee
Olympia, Wash., March 9 – GS Finance Corp. priced $925,000 of autocallable contingent coupon notes due Sept. 7, 2021 linked to the S&P 500 index, the Euro Stoxx 50 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 11.5% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
After six months, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly observation date prior to maturity.
The payout at maturity will be par unless any index closes below its trigger level on any day during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
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: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $925,000
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| Maturity: | Sept. 7, 2021
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| Coupon: | 11.5%, payable each quarter that each index closes at or above its trigger level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below trigger level during life of notes and any index finishes below initial level, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | After six months, automatically called at par if each index closes at or above its initial level on any quarterly observation date prior to maturity
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| Initial levels: | 2,954.22 for S&P, 3,329.49 for Stoxx and 1,476.431 for Russell
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| Trigger levels: | 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.62%
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| Cusip: | 40056YDX9
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