By William Gullotti
Buffalo, N.Y., Aug. 12 – GS Finance Corp. priced $500,000 of autocallable contingent coupon index-linked notes due May 23, 2022 tied to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 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 at an annual rate of 5.3% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date after six months.
If the notes are not called and each index closes at or above trigger level, 60% of initial value, on every trading day, the payout is par.
If any index closes below 60% of its initial level on any day during the life of the notes and all indexes finish above their initial levels, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | S&P index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $500,000
|
| Maturity: | May 23, 2022
|
| Coupon: | 5.3% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if all indexes finish above initial levels; par if no index ever closes below trigger level; otherwise, investors will be fully exposed to losses of worst performer
|
| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date after six months
|
| Initial index levels: | 4,173.85 for S&P, 2,224.63 for Russell, 13,393.12 for Nasdaq
|
| Trigger level: | 60% of initial levels
|
| Coupon trigger level: | 70% of initial levels
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.725%
|
| Cusip: | 40057HCS7
|
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