By Wendy Van Sickle
Columbus, Ohio, March 31 – GS Finance Corp. priced $10.5 million of callable buffered monthly range accrual notes due Sept. 30, 2027 linked to the Dow Jones industrial average, according to a 267B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate of 8.5% for each day that the index closes at or above the 80% coupon barrier, payable monthly.
The notes will be callable at par on any interest payment date after one year.
If the notes are not called, the payout at maturity will be par unless the index finishes below 85% of its initial level, in which case investors will lose 1% for every 1% decline of the index beyond 15%.
The notes are guaranteed by 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 buffered monthly range accrual notes
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| Underlying index: | Dow Jones industrial average
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| Amount: | $10.5 million
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| Maturity: | Sept. 30, 2027
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| Coupon: | 8.5% annualized for each day that each index closes at or above 80% coupon barrier, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless the index finishes below 85% of its initial level, in which case investors will lose 1% for every 1% decline of the index beyond 15%
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| Call option: | At par plus interest on any interest payment date after one year
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| Initial level: | 22,552.17
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| Pricing date: | March 27
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| Settlement date: | March 31
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.4%
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| Cusip: | 40056YQA5
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