By William Gullotti
Buffalo, N.Y., June 7 – GS Finance Corp. priced $2.14 million of autocallable contingent coupon index-linked notes due Aug. 1, 2024 tied to the S&P 500 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 monthly coupon at an annual rate of 10.05% if each index closes at or above the coupon trigger level, 75% 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 monthly call observation date after six months.
If the notes have not been called, the payout at maturity will be par unless either index closes below its 75% trigger buffer level during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $2,143,000
|
| Maturity: | Aug. 1, 2024
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| Coupon: | 10.05% annualized rate, payable monthly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below its trigger buffer level during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level
|
| Call: | At par plus coupon if each index closes at or above its initial level on any monthly call observation date after six months
|
| Initial index levels: | 4,169.48 for S&P, 1,768.987 for Russell
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| Trigger buffer levels: | 75% of initial levels
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| Coupon trigger levels: | 75% of initial levels
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| Pricing date: | April 28
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| Settlement date: | May 3
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 40057RH92
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