By Sarah Lizee
Olympia, Wash., Aug. 26 – GS Finance Corp. priced $7.92 million of callable contingent coupon underlier-linked notes due Feb. 27, 2025 linked to the Russell 2000 index, the S&P 500 index and the iShares MSCI EAFE ETF, 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 an annualized rate of 11.02% if each underlier closes at or above 80% of its initial level on the related review date.
The notes are callable at par plus any coupon on any quarterly coupon payment date.
If the notes are not redeemed early, the payout at maturity will be par plus any coupon unless any underlier finishes below 55% of its initial level, in which case investors will be fully exposed to the loss of the least performing underlier.
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 underlier-linked notes
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| Underlying underliers: | Russell 2000 index, the S&P 500 index and the iShares MSCI EAFE ETF
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| Amount: | $7.92 million
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| Maturity: | Feb. 27, 2025
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| Coupon: | 11.02% annualized, payable each quarter that each underlier closes at or above trigger level on related review date
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| Price: | Par
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| Payout at maturity: | Par plus coupon if any, unless any underlier finishes below trigger level, in which case full exposure to loss of least performing underlier
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| Call option: | At par plus any coupon on any quarterly coupon payment date
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| Initial index levels: | 1,568.47 for Russell, 3,431.28 for S&P, $65.27 for ETF
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| Coupon trigger levels: | 80% of initial levels
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| Trigger buffer levels: | 55% of initial levels
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 27
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 40057CP88
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