By Wendy Van Sickle
Columbus, Ohio, April 14 – GS Finance Corp. priced $1.04 million of autocallable contingent coupon underlier-linked notes due June 29, 2021 linked to the Euro Stoxx Banks index, the S&P 500 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annualized rate of 23.6% if each underlier closes at or above 55% of its initial level on the observation date for that period.
The notes will be automatically called at par plus the coupon due if the level of each underlier is above 110% of its initial level on any coupon observation date after six months.
If the notes are not redeemed early, the payout at maturity will be par plus the coupon unless any underlier finishes below 55% of its initial level any day during the life of the notes and the worst performing underlier finishes below its initial level, in which case investors will be fully exposed to the loss of the least performing underlier.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
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| Underlying underliers: | Euro Stoxx Banks index, S&P 500 index and VanEck Vectors Gold Miners ETF
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| Amount: | $1,035,000
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| Maturity: | June 29, 2021
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| Coupon: | 23.6% annualized, payable each month that each underlier closes at or above coupon trigger level on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any underlier finishes below trigger level any day during the life of the notes and the worst performing underlier finishes below its initial level, in which case full exposure to loss of least performing underlier
|
| Call: | At par plus the coupon due if the level of each underlier is above 110% of its initial level on any coupon observation date after six months
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| Initial index levels: | 2,470.5 for S&P, 51.98 for Stoxx Banks, and $24.03 for ETF
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| Coupon/trigger levels: | 55% of initial levels
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| Pricing date: | April 3
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| Settlement date: | April 6
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.35%
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| Cusip: | 40056YY24
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