New Issue: Goldman sells $6.4 million trigger callable contingent yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, Oct. 25 – GS Finance Corp. priced $6.4 million of trigger callable contingent yield notes due Oct. 17, 2023 linked to the least performing of the Russell 2000 index, the MSCI EAFE index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

Each quarter, the notes pay a contingent coupon at an annualized rate of 9% if each index’s closing level is at or above its coupon barrier, 70% of its initial level, on the observation date that quarter.

The notes are callable at par of $10 on each quarterly observation date other than the final one.

If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par plus any coupon. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

Goldman Sachs & Co. is the agent with UBS Financial Services Inc. acting as distributor.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Trigger callable contingent yield notes
Underlying indexes:	Russell 2000, S&P 500 and MSCI EAFE
Amount:	$6.4 million
Maturity:	Oct. 17, 2023
Coupon:	9%, payable quarterly if each index closes at or above its downside threshold on observation date that quarter
Price:	Par of $10
Payout at maturity:	If each index finishes at or above downside threshold, par plus coupon, if any; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
Call option:	At par on each quarterly observation date other than final one
Initial levels:	2,767.13 for S&P, 1,546.679 for Russell, 1,850.76 for MSCI EAFE
Coupon barriers:	1,936.991 for S&P, 1,082.675 for Russell, 1,295.532 for MSCI EAFE; 70% of initial levels
Downside thresholds:	1,660.278 for S&P, 928.007 for Russell, 1,110.456 for MSCI EAFE; 60% of initial levels
Pricing date:	Oct. 17
Settlement date:	Oct. 22
Agent:	Goldman Sachs & Co.
Distributor:	UBS Financial Services Inc.
Fees:	2.05%
Cusip:	36256M403

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