By Wendy Van Sickle
Columbus, Ohio, July 10 – GS Finance Corp. priced $2.85 million of autocallable contingent coupon notes due April 6, 2021 linked to the worst performing of the Russell 2000 index, the S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 13% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly coupon determination date.
If the notes are not called, the payout will be par if all the indexes close above their 70% threshold levels.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Autocallable contingent coupon notes
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Underlying indexes: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
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Amount: | $2,851,000
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Maturity: | April 6, 2021
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Coupon: | 13%, payable quarterly if each index closes at or above coupon barrier on observation date for that period
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Price: | Par
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Payout at maturity: | Par unless any index finishes below 70% of initial level, in which case full exposure to losses of worst performing index
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Call: | Automatically at par if each index closes at or above initial levels on any coupon determination date
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Initial levels: | 1,441.365 for Russell, 3,100.29 for S&P, 25,812.88 for Dow
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Coupon barrier levels: | 70% of initial levels
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Final barrier levels: | 70% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.35%
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Cusip: | 40057CCS8
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