By Marisa Wong
Madison, Wis., June 2 – Goldman Sachs Group, Inc. priced $3.39 million of autocallable contingent coupon notes due June 2, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 8.25% per year if each index closes at or above its coupon trigger level, 75% of its initial level, on the review date for that quarter.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly determination date beginning in November.
If the notes have not been called and the return of each index is negative 25% or greater, the payout at maturity will be par plus the contingent coupon.
If the return of either index is less than negative 25%, investors will share fully in the losses of the worst-performing index.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $3,389,000
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Maturity: | June 2, 2020
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Coupon: | Each quarter, notes pay coupon at rate of 8.25% per year if each index closes at or above coupon trigger level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if return of each index is negative 25% or greater; if return of either index is less than negative 25%, full exposure to losses of worst-performing index
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Call: | From November onward, at par plus coupon if each index closes at or above initial level on any quarterly determination date
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Initial levels: | 2,104.20 for S&P 500 and 1,238.756 for Russell 2000
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Coupon trigger levels: | 1,578.15 for S&P 500 and 929.067 for Russell 2000; 75% of initial levels
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Pricing date: | May 26
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Settlement date: | May 29
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Underwriter: | Goldman Sachs & Co.
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Fees: | 2.85%
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Cusip: | 38148T3M9
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