By Sarah Lizee
Olympia, Wash., Sept. 15 – GS Finance Corp. priced $2.3 million of callable contingent coupon underlier-linked notes due Sept. 13, 2023 linked to the Russell 2000 Value index, the S&P 500 index and the iShares MSCI Emerging Markets 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 9.55% if each underlier closes at or above 70% 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 due unless any underlier finishes below 65% of its initial level, in which case investors will lose 1.5385% for every 1% that the least performing underlier declines beyond 35%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon underlier-linked notes
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| Underlying underliers: | Russell 2000 Value index, the S&P 500 index and the iShares MSCI Emerging Markets ETF
|
| Amount: | $2.3 million
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| Maturity: | Sept. 13, 2023
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| Coupon: | 9.55% annualized, payable each quarter that each underlier closes at or above coupon trigger level on related review date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon, if any, unless any underlier finishes below trigger level, in which case 1.5385% loss for every 1% that least performing underlier declines beyond 35%
|
| Call option: | At par plus any coupon on any quarterly coupon payment date
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| Initial index levels: | 1,528.125 for Russell, 3,331.84 for S&P, $43.57 for ETF
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| Coupon trigger levels: | 70% of initial levels
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| Buffer levels: | 65% of initial levels
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 11
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057CV73
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