By Sarah Lizee
Olympia, Wash., Nov. 5 – GS Finance Corp. priced $397,000 of autocallable contingent coupon notes due May 7, 2020 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.
The notes will pay a contingent quarterly coupon of 9.25% per annum if each index closes at or above its 70% coupon trigger level on the determination date for that quarter.
After six months, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
If each index finishes at or above its 70% coupon trigger level, the payout will be par plus the final contingent coupon.
Investors will lose 1% for each 1% decline of the lesser-performing index from its initial level if either index finishes below 70% of its initial level.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $397,000
|
| Maturity: | May 7, 2020
|
| Contingent coupon: | 9.25% annualized, payable quarterly if each index closes at or above 70% coupon trigger level on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above coupon trigger level, par plus contingent coupon; 1% loss for each 1% decline of lesser-performing index if either index falls by more than 30%
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after six months
|
| Initial index levels: | 2,711.74 for S&P 500 and 1,511.413 for Russell 2000
|
| Coupon trigger levels: | 1,898.218 for S&P 500 and 1,057.9891 for Russell 2000; 70% of initial levels
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.81%
|
| Cusip: | 40056E5S3
|
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