By Wendy Van Sickle
Columbus, Ohio, Oct. 9 – GS Finance Corp. priced $582,000 8.7% autocallable fixed-coupon notes due Jan. 7, 2021 linked to the lesser performing of 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.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless either index finishes below its initial level and either index ever closes below the trigger level, 75% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable fixed-coupon notes
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| Underlying indexes: | Nasdaq-100, Russell 2000
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| Amount: | $582,000
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| Maturity: | Jan. 7, 2021
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| Coupon: | 8.7%, payable quarterly
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| Price: | Par
|
| Call: | At par plus the coupon if each index closes at or above its initial level on any quarterly call observation date after six months
|
| Payout at maturity: | Par unless either index finishes below initial level and ever closes below 75% trigger level, in which case full exposure to loss
|
| Initial levels: | 7,749.449 for Nasdaq and 1,523.373 for Russell
|
| Pricing date: | Sept. 30
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| Settlement date: | Oct. 3
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| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.1%
|
| Cusip: | 40056X7M2
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