By Kiku Steinfeld
Chicago, Aug. 4 – GS Finance Corp. priced $2.77 million of 0% index-linked notes due Feb. 28, 2022 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.
If the index finishes at or above its initial level at maturity and closes above its trigger level, 81.5% of its initial level, on every day during the life of the notes, the payout at maturity will be par.
If the return of the index at maturity is below its initial level but not more than 18.5% from its initial level and closes above its trigger level on every day during the life of the notes, the payout will be par plus the absolute value of the index return.
If the index finishes at or above 81.5% of its initial level at maturity and ever closes below its trigger level, the payout at maturity will be 122.7% of the index return plus 18.5%. In this case, the return will be positive.
If the index finishes below 81.5% of its initial level at maturity and ever closes below its trigger level, investors will lose 1.227% for every 1% decline of the index beyond 18.5%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,770,000
|
| Maturity: | Feb. 28, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index never closes below 81.5% of its initial level during the life of the notes and finishes above its initial lever, par or if below its initial level, par plus the absolute value of the index return; if the index ever closes below 81.5% of its initial level during the life of the notes and the index finishes above 81.5% of its initial level, par plus 1.227 times the index return plus 18.5% or if it finishes below the 81.5% trigger level, par plus 1.227% for every 1% decline beyond 18.5%
|
| Initial level: | 3,215.63
|
| Trigger level: | 81.5% of initial level
|
| Pricing date: | July 24
|
| Settlement date: | July 31
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.18%
|
| Cusip: | 40057CG39
|
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