Chicago, Sept. 28 – GS Finance Corp. priced $21.86 million of trigger autocallable contingent yield notes due Sept. 26, 2025 linked to the least performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at a rate of 7.38% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the related determination date.
The notes will be automatically called at par of $10 plus any coupon due on any quarterly coupon payment date after six months if both indexes finish above their initial levels.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par plus any final coupon due. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
The notes are guaranteed by Goldman Sachs Group Inc.
Goldman Sachs & Co. LLC is the underwriter. UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and Nasdaq-100
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| Amount: | $21,861,910
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| Maturity: | Sept. 26, 2025
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| Coupon: | 7.38% per year, payable for each quarter that each index closes at or above its coupon barrier on related determination date
|
| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus any coupon due; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
|
| Call: | Automatically at par plus coupon on each quarterly observation date after six months if both indexes finish above their initial levels
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| Initial levels: | 1,451.458 for Russell and 10,833.33 for Nasdaq
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| Coupon barriers: | 1,016.021 for Russell and 7,583.331 for Nasdaq; 70% of initial levels
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| Downside thresholds: | 870.875 for Russell and 6,499.998 for Nasdaq; 60% of initial levels
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | 2.55%
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| Cusip: | 36259L758
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