New York, April 3 – GS Finance Corp. priced $10.98 million of contingent income callable securities due March 30, 2034 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon at a rate of 7.5% if the index closes above 75% of its initial level on the related observation date.
The securities may be called at par on any quarterly determination date after six months.
If the index gains or ends above its 75% downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the index declines if it finishes below its downside threshold level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income callable securities
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| Underlying index: | S&P 500 index
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| Amount: | $10,979,000
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| Maturity: | March 30, 2034
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| Coupon: | 7.5%, payable quarterly if index closes above downside threshold on observation date
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| Price: | Par
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| Payout at maturity: | If index finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
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| Call option: | At par on any quarterly determination date after six months
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| Initial level: | 5,218.19
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| Downside threshold: | 3,913.6425, 75% of initial level
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| Pricing date: | March 25
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| Settlement date: | March 28
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.6%
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| Cusip: | 40057YPM9
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