By Wendy Van Sickle
Columbus, Ohio, May 17 – GS Finance Corp. priced $2.57 million of autocallable contingent coupon notes due May 20, 2024 linked to the lowest performing of the Russell 2000 index, the Technology Select Sector SPDR fund and the SPDR S&P Regional Banking 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 contingent monthly coupon if each asset closes at or above its 70% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 9.25%.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par plus any coupon due unless any asset finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing asset.
Goldman Sachs & Co. LLC is the agent.
| 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 assets: | Russell 2000 index, Technology Select Sector SPDR fund and SPDR S&P Regional Banking ETF
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| Amount: | $2,571,000
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| Maturity: | May 20, 2024
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| Contingent coupon: | 9.25% annual rate, payable monthly if each asset closes at or above coupon trigger level on the determination date for that period
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless any asset finishes below barrier level, in which case investors will be fully exposed to the decline of the least performing asset
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| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly call observation date after six months
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| Initial asset levels: | 1,739.382 for Russell, $131.49 for Technology fund and $60.02 for Regional Banking
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| Coupon trigger levels: | 70% of initial levels
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| Barrier levels: | 60% of initial levels
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| Pricing date: | May 12
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| Settlement date: | May 17
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.6%
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| Cusip: | 40057LUR0
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