By William Gullotti
Buffalo, N.Y., June 9 – GS Finance Corp. priced $7.46 million of callable buffered monthly index-linked range accrual notes due May 31, 2028 linked to the S&P 500 index, according to a 424b2 filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate of 6.65% for each day that the index closes at or above the 80% coupon barrier. Interest is 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 80% of its initial level, in which case investors will lose 1% for every 1% decline of the index beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly index-linked range accrual notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $7,462,000
|
| Maturity: | May 31, 2028
|
| Coupon: | 6.65% annualized accrual for each day that index closes at or above 80% coupon barrier, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the index finishes below 80% of its initial level, in which case investors will lose 1% for every 1% decline of the index beyond 20%
|
| Call option: | At par plus interest on any interest payment date after one year
|
| Initial level: | 4,151.28
|
| Coupon barrier: | 80% of initial level
|
| Buffer level: | 80% of initial level
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 40057RRQ3
|
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