By Sarah Lizee
Olympia, Wash., Dec. 13 – GS Finance Corp. priced $527,000 of autocallable contingent coupon notes due June 17, 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 8% per annum if each index closes at or above its 70% coupon trigger level on the determination date for that quarter.
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 beginning in June 2019 and ending in March 2020.
If each index finishes at or above its initial level or if neither index has closed below the 70% trigger level during the life of the notes, the payout will be par plus the final contingent coupon.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index, but will receive a coupon if each index finishes at or above its coupon trigger.
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: | $527,000
|
| Maturity: | June 17, 2020
|
| Contingent coupon: | 8% 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 initial level or if neither index has closed below 70% trigger level during life of notes, par plus contingent coupon; otherwise, 1% loss for each 1% decline of lesser-performing index, plus any contingent coupon
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date starting in June 2019 and ending in March 2020
|
| Initial index levels: | 2,637.72 for S&P 500 and 1,443.095 for Russell 2000
|
| Pricing date: | Dec. 10
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| Settlement date: | Dec. 13
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 2.525%
|
| Cusip: | 40056EKP2
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