By William Gullotti
Buffalo, N.Y., June 30 – GS Finance Corp. priced $2.92 million of autocallable contingent coupon index-linked notes due Jan. 3, 2024 tied to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, 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 quarterly coupon at an annual rate of 8.1% if each index closes at or above the coupon trigger level, 60% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date after one year.
If the notes are not called and each index finishes at or above its coupon trigger, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon trigger level but at or above the 50% trigger buffer level, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the least-performing index from its initial level.
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 index-linked notes
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $2,923,000
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| Maturity: | Jan. 3, 2024
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| Coupon: | 8.1% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above coupon trigger, par plus final coupon; if worst performer finishes below coupon trigger but not below trigger buffer level, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date after one year
|
| Initial index levels: | 3,911.74 for S&P, 12,105.85 for Nasdaq, 1,765.737 for Russell
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| Trigger buffer levels: | 50% of initial levels
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| Coupon trigger levels: | 60% of initial levels
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
|
| Cusip: | 40057MG29
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