By Sarah Lizee
Olympia, Wash., March 16 – GS Finance Corp. priced $1.46 million of autocallable contingent coupon notes due March 15, 2021 linked to the Dow Jones U.S. Select Dividend index, Nasdaq-100 Technology Sector index and Russell 2000 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 14.76% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any monthly observation date prior to maturity beginning in September and ending in December.
The payout at maturity will be par unless any index closes below its 70% trigger level on any trading 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% decline of the least-performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Dow Jones U.S. Select Dividend index, Nasdaq-100 Technology Sector index and Russell 2000 index
|
| Amount: | $1,463,000
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| Maturity: | March 15, 2021
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| Coupon: | 14.76% per year, payable each month that each index closes at or above its trigger level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its trigger level on any trading 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% decline of the least-performing index from its initial level
|
| Call: | Automatically called at par if each index closes at or above its initial level on any monthly observation date beginning in September and ending in December
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| Initial levels: | 659.56 for Dow, 5,086.420 for Nasdaq, 1,449.221 for Russell
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| Coupon trigger/buffer levels: | 70% of initial levels
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| Pricing date: | March 6
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| Settlement date: | March 11
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.725%
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| Cusip: | 40056YPN8
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