By Marisa Wong
Morgantown, W.Va., Oct. 7 – Goldman Sachs Group, Inc. priced $910,000 of callable contingent coupon notes due Oct. 15, 2030 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a fixed coupon of 1.8% per quarter for the first five years. Beginning in December 2020, the notes will pay a coupon of 1.8% each quarter only if both indexes close at or above 60% of their initial levels on the determination date for that quarter.
Beginning in January 2021, the notes are callable at par on any interest payment date.
If the notes have not been called and the return of each index is at least negative 40%, the payout at maturity will be par plus the contingent coupon.
If the return of either index is less than negative 40%, investors will share fully in the losses of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 index S&P 500 index
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| Amount: | $910,000
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| Maturity: | Oct. 15, 2030
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| Coupon: | Fixed coupon of 1.8% per quarter for the first five years; beginning in December 2020, 1.8% each quarter only if both indexes close at or above trigger levels on the determination date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if return of each index is at least negative 40%; otherwise, full exposure to losses of lesser-performing index
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| Call option: | At par on any interest payment date beginning in January 2021
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| Initial levels: | 1,090.57 for Russell 2000 and 1,881.77 for S&P 500
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| Pricing date: | Sept. 28
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| Settlement date: | Sept. 30
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.8%
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| Cusip: | 38148TED7
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