By Wendy Van Sickle
Columbus, Ohio, April 9 – GS Finance Corp. priced $946,000 of callable contingent coupon notes due April 3, 2024 linked to the Russell 2000 index and the S&P 500 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 pay a contingent coupon if each index’s closing level is greater than or equal to 60% of its initial level on the observation date for that period. The contingent coupon rate will be 6% per year.
Beginning in April 2020, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the lesser performing index.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $946,000
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Maturity: | April 3, 2024
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Coupon: | 6% per year; payable quarterly if each index’s closing level is greater than or equal to 60% of initial level on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the lesser performing index
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Call option: | Beginning in April 2020, at par on any coupon payment date
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Initial levels: | 2,834.4 for S&P and 1,539.739 for Russell
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Pricing date: | March 29
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Settlement date: | April 3
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.21%
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Cusip: | 40056F2P9
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