By Susanna Moon
Chicago, Oct. 1 – GS Finance Corp. priced $807,000 of callable contingent coupon notes due March 29, 2021 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.7% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes are callable at par on any review date after six months.
The payout at maturity will be par unless either index closes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
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: | $807,000
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Maturity: | March 29, 2021
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Coupon: | 13.7% annualized, payable quarterly if each index closes at or above 70% coupon barrier on review date for that quarter
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Price: | Par
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Payout at maturity: | If each index finishes at or above 70% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index
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Call option: | At par on any quarterly call review date beginning March 2019
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Initial levels: | 1,712.316 for Russell and 2,929.67 for S&P
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Thresholds: | 70% of initial levels
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Pricing date: | Sept. 21
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Settlement date: | Sept. 28
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.175%
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Cusip: | 40055QZ54
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