By Kiku Steinfeld
Chicago, Dec. 17 – GS Finance Corp. priced $1.41 million of callable contingent coupon underlier-linked notes due Nov. 29, 2022 linked to the S&P 500 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes pay a contingent coupon at an annualized rate of 10% if each underlier closes at or above 65% of its initial level on the observation date for that period.
The notes are callable at par plus any coupon on any semiannual coupon payment date beginning in May 2020 and ending in May 2022.
If the notes are not redeemed early, the payout at maturity will be par plus the coupon unless either underlier finishes below 65% of 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.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon underlier-linked notes
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Underlying underliers: | S&P 500 index and SPDR S&P Biotech ETF
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Amount: | $1,410,000
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Maturity: | Nov. 29, 2022
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Coupon: | 10% annualized, payable each six months that each underlier closes at or above 65% of its initial level on the observation date for that period
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Price: | Par
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Payout at maturity: | Par plus coupon unless either underlier finishes below 65% of initial level, in which case full exposure to loss of least performing underlier
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Call option: | At par plus any coupon on any semiannual coupon payment date beginning in May 2020 and ending in May 2022
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Initial index levels: | 3,110.29 for index and $88.14 for ETF
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Trigger levels: | 65% of initial levels
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Pricing date: | Nov. 22
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Settlement date: | Nov. 29
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.75%
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Cusip: | 40056XKM7
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