By Sarah Lizee
Olympia, Wash., June 4 – GS Finance Corp. priced $333,000 of callable contingent coupon notes due May 31, 2029 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon if each index closes at or above 75% of its initial level on the observation date for that quarter. The coupon rate will be 8% per year for the first 20 payment dates and 10% per year for the remaining payment dates.
The notes are callable at par on any coupon payment date after one year.
If each index finishes at or above 60% of its initial level, the payout at maturity will be par plus the final coupon, if any. Otherwise, investors will be exposed to the decline of the worse performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $333,000
|
| Maturity: | May 31, 2029
|
| Coupon: | Notes pay a contingent coupon if each index closes at or above 75% of its initial level on the observation date for that quarter; rate will be 8% per year for the first 20 payment dates and 10% per year for the remaining payment dates
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon, if any, unless either index falls by more than 40%, in which case full exposure to decline of worse performing index
|
| Call option: | At par on any coupon payment date after one year
|
| Initial levels: | 1,489.952 for Russell and 3,297.81 for Stoxx
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4.2%
|
| Cusip: | 40056FER2
|
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