New Issue: Goldman prices $7.67 million trigger phoenix autocallables on indexes

By Marisa Wong

Madison, Wis., Oct. 10 – Goldman Sachs Group, Inc. priced $7.67 million of trigger phoenix autocallable optimization securities due Oct. 15, 2024 linked to the least performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above its coupon barrier, 60% of its initial level, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 7% per year. Otherwise, no coupon will be paid that quarter.

Beginning after one year, the notes will be called at par of $10 plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and each index finishes at or above its 60% coupon barrier level, the payout at maturity will be par plus the contingent coupon. If either index finishes below the 60% barrier but each index finishes at or above the trigger level, 50% of the initial level, the payout will be par. If either index finishes below the 50% trigger level, investors will be exposed to the decline of the worst-performing index from its initial level.

Goldman, Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Trigger phoenix autocallable optimization securities
Underlying indexes:	Russell 2000 and Euro Stoxx 50
Amount:	$7,667,000
Maturity:	Oct. 15, 2024
Coupon:	7%, payable quarterly if each index closes at or above its coupon barrier level on a quarterly observation date; otherwise, no coupon will be paid that quarter
Price:	Par
Payout at maturity:	If each index finishes at or above its coupon barrier level, par plus contingent coupon; if either index finishes below barrier level but each index finishes at or above trigger level, par; if either index finishes below trigger level, full exposure to decline of worst-performing index from its initial level
Call:	At par plus contingent coupon if each index closes at or above its initial level on any quarterly observation date beginning after one year
Initial levels:	1,097.123 for Russell, 3,053.31 for Euro Stoxx
Barrier levels:	658.27 for Russell, 1,831.99 for Euro Stoxx; 60% of initial levels
Trigger levels:	548.56 for Russell, 1,526.66 for Euro Stoxx; 50% of initial levels
Pricing date:	Oct. 8
Settlement date:	Oct. 14
Underwriter:	Goldman, Sachs & Co.
Fees:	3.7%
Cusip:	38148F679

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