By Sarah Lizee
Olympia, Wash., May 8 – GS Finance Corp. priced $1 million of callable contingent coupon equity-linked securities due May 7, 2026 linked to the worst performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annualized rate of 9.85% if each asset closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any monthly valuation date after six months.
If the notes are not redeemed, the payout will be par plus the final coupon unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least 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 equity-linked securities
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Underlying assets: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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Amount: | $1 million
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Maturity: | May 7, 2026
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Contingent coupon: | 9.85% per year, payable monthly if each asset closes at or above coupon barrier on the valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus coupon unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing index
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Call option: | In whole at par plus any coupon due on any monthly valuation date after six months
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Initial level: | 1,263.969 for Russell, 2,842.74 for S&P, 23,749.76 for Dow
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Coupon/final barriers: | 60% of initial levels
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Pricing date: | May 4
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Settlement date: | May 7
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.125%
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Cusip: | 40057EAX5
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