By Wendy Van Sickle
Columbus, Ohio, Aug. 21 – GS Finance Corp. priced $2.51 million of callable contingent coupon notes due Aug. 19, 2021 linked to the S&P 500 index, the Euro Stoxx 50 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.
Each quarter, the notes pay a contingent coupon at a rate of 9% per year if each index closes at or above 70% of its initial level on the observation date for that period.
The notes are callable at par on any coupon payment date.
If the notes are not redeemed, the payout at maturity will be par plus the coupon unless any index finishes below 70% of its initial level, in which case investors will be 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 notes
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Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50 index
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Amount: | $2,507,000
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Maturity: | Aug. 19, 2021
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Coupon: | 9% per year; payable each quarter that each index closes at or above 70% of its initial level on observation 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 70% of initial level, in which case exposure to loss of least performing index
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Call option: | At par on any coupon payment date
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Initial index levels: | 1,493.64 for Russell, 3,329.08 for Euro Stoxx, 2,888.68 for S&P
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Pricing date: | Aug. 15
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Settlement date: | Aug. 21
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.65%
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Cusip: | 40056X4D5
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