By William Gullotti
Buffalo, N.Y., April 22 – GS Finance Corp. priced $1.05 million of callable contingent coupon index-linked notes due April 3, 2029 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an increasing annual rate if the index closes at or above the coupon trigger level, 85% of the initial level, on the valuation date for that period. The coupon will be paid at a rate of $12.50 per $1,000 principal amount for the first four observation dates, increasing to $13.75 per $1,000 for the next subsequent four, to $15 per $1,000 for the next four, to $16.25 for the next four and to $17.50 per $1,000 for the remaining four observations. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
After one year, the notes will be callable at the option of the issuer on any quarterly valuation date at par plus any coupon otherwise due.
If the notes are not called and the index finishes at or above the coupon trigger, the payout will be par plus the final coupon.
Otherwise, investors will receive par.
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 index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.05 million
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| Maturity: | April 3, 2029
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| Coupon: | Payable quarterly at an increasing amount if the index closes at or above coupon trigger level on valuation date for that period; coupon will pay $12.50 per $1,000 principal amount for the first four observation dates, increasing to $13.75 per $1,000 for the next subsequent four, to $15 per $1,000 for the next four, to $16.25 for the next four and to $17.50 for the final four observations; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | If the index finishes at or above coupon trigger level, par plus the final coupon; otherwise, par
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| Call: | At par plus any coupon due on any quarterly review date after one year
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| Initial index level: | 5,254.35
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| Coupon trigger level: | 85% of initial level
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 40057YW82
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