By Sarah Lizee
Olympia, Wash., Jan. 15 – GS Finance Corp. priced $597,000 5.5% autocallable fixed-coupon notes due April 19, 2021 linked to the lesser performing of 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.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if each index closes at or above 100% of its initial level on any quarterly call observation date starting on July 10.
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 75% of its initial level, in which case investors will be exposed to the loss of the least performing index beyond the buffer.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable fixed-coupon notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $597,000
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Maturity: | April 19, 2021
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Coupon: | 5.5%, payable quarterly
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Price: | Par
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Call: | At par plus the coupon if each index closes at or above 100% of its initial level on any quarterly call observation date starting on July 10
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Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below 75% of its initial level, in which case investors will be exposed to the loss of the least performing index beyond the buffer
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Initial levels: | 3,265.35 for S&P and 1,657.643 for Russell
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Buffer levels: | 75% of initial levels
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Pricing date: | Jan. 10
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Settlement date: | Jan. 15
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Underwriter: | Goldman Sachs & Co.
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Fees: | 2.35%
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Cusip: | 40056XYJ9
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