By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – GS Finance Corp. priced $3.96 million of callable contingent coupon notes due Dec. 29, 2021 linked 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.
Each six months, the notes pay a contingent coupon at an annual rate of 5.75% if each index closes at or above 55% of its initial level on the observation date that period.
The notes are callable at par on any coupon payment date.
The payout at maturity will be par plus the final coupon unless either index declines by more than 45%, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $3,957,000
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Maturity: | Dec. 29, 2021
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Coupon: | 5.75% per year, payable each six months that each index closes at or above 55% of initial level on observation date that period
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Price: | Par
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Payout at maturity: | Par plus final coupon unless either index declines by more than 45%, in which case 1% loss for every 1% that lesser-performing index declines from initial level
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Call option: | At par on any coupon payment date
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Initial levels: | 1,547.107 for Russell 2000 and 2,684.57 for S&P 500
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Pricing date: | Dec. 21
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Settlement date: | Dec. 29
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.3%
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Cusip: | 40055A5J2
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