By Kiku Steinfeld
Chicago, Nov. 30 – GS Finance Corp. priced $542,000 of autocallable contingent coupon index-linked notes due Oct. 2, 2023 tied to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 11.5% if each index closes at or above its coupon trigger level, 70% 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 six months.
If the notes are not called and each index finishes at or above its initial level, the payout will be par.
Investors will also receive par if no index closes below 60% of its initial value on any day during the life of the notes.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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
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| Underlying indexes: | S&P index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $542,000
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| Maturity: | Oct. 2, 2023
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| Coupon: | 11.5% annualized rate, payable quarterly if each index closes at or above coupon trigger level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par if all indexes finish above initial levels; par if no index closes below trigger buffer level during life of notes; otherwise, full exposure to losses of worst performer
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| Call: | At par plus coupon if each index closes at or above initial level on any quarterly call observation date after six months
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| Initial index levels: | 4,543.06 for S&P, 2,077.983 for Russell, 14,754.31 for Nasdaq
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| Coupon trigger levels: | 70% of initial levels
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | March 25
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| Settlement date: | March 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.41%
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| Cusip: | 40057LKC4
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