By Sarah Lizee
Olympia, Wash., March 4 – GS Finance Corp. priced $464,000 of autocallable contingent coupon notes due Sept. 4, 2020 linked to the Nasdaq-100 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 quarter, the notes will pay a contingent coupon at an annual rate of 10% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that quarter.
Beginning in August 2019, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless either index closes below its trigger level during the life of the notes and either index finishes below its initial level, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and Nasdaq-100
|
| Amount: | $464,000
|
| Maturity: | Sept. 4, 2020
|
| Coupon: | 10%, payable quarterly if each index closes at or above trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger level during life of notes and either index finishes below initial level, in which case full exposure to decline of worse-performing index
|
| Call: | Beginning in August 2019, automatically at par if both indexes close at or above initial levels on any coupon determination date
|
| Initial index levels: | 7,097.525 for Nasdaq and 1,575.549 for Russell
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.65%
|
| Cusip: | 40056EW20
|
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