By Kiku Steinfeld
Chicago, July 6 – GS Finance Corp. priced $28,000 of 0% autocallable index-linked notes due July 2, 2027 tied to the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus the call return of the lesser-performing index if both indexes close at or above their call levels on any annual observation date.
The call level will be 102% of the initial level for the first call observation date, stepping up by 200 basis points on each subsequent call review date.
For each index, the call return will be the percentage increase in the closing level of that index on the preceding call observation date from its initial level.
If the notes are not called and each index finishes above its initial level, the payout will be par plus the gain of the lesser-performing index.
If either index finishes flat or falls by up to 15%, the payout will be par.
If either index falls by more than 15%, investors will be exposed to the losses of the lesser-performing index beyond 15%.
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.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | Russell 2000, Dow Jones industrial average
|
| Amount: | $28,000
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| Maturity: | July 2, 2027
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any gain of the lesser-performing index; if either index finishes flat or falls by up to 15%, par; otherwise, exposure to the losses of the lesser performing index beyond 15%
|
| Call: | At par plus call return of lesser-performing index if both indexes close at or above call levels on any annual observation date
|
| Call return: | Percentage increase in closing level of index on preceding call observation date from initial level
|
| Initial levels: | 1,413.315 for Russell, 25,745.60 for Dow
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| Buffer levels: | 85% of initial levels
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| Call levels: | 102% of initial level for first call observation date, stepping up by 200 bps on each subsequent call review date
|
| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.15%
|
| Cusip: | 40057C7M7
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