By William Gullotti
Buffalo, N.Y., Oct. 7 – GS Finance Corp. priced $763,000 of 0% autocallable contingent coupon underlier-linked notes due July 27, 2029 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the ARK Innovation ETF, 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 quarterly contingent coupon of 6% annually if each underlier is at or above the 70% coupon trigger level on the corresponding observation date.
The notes will automatically be called at par plus coupon if each underlier closes at or above initial levels on any quarterly observation date after one year.
At maturity, if each underlier finishes at or above its coupon trigger level, the payout will be par plus the final coupon.
If the worst performer finishes below its coupon trigger but at or above its 60% trigger buffer level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer 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 underlier-linked notes
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| Underlying assets: | Russell 2000 index, Nasdaq-100 index, ARK Innovation ETF
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| Amount: | $763,000
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| Maturity: | July 27, 2029
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| Coupon: | Payable quarterly at an annual rate of 6% if each underlier is at or above the coupon trigger level on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus coupon if each underlier finishes above coupon trigger level; if the worst performer finishes below coupon trigger level but at or above trigger buffer level, par; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial levels on any quarterly observation date after one year
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| Initial levels: | $120.76 for ETF, 2,194.298 for Russell, 14,728.21 for Nasdaq
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| Coupon trigger level: | 70% of initial levels
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| Trigger buffer level: | 60% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 23
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 40057HVM9
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