By Wendy Van Sickle
Columbus, Ohio, March 20 – GS Finance Corp. priced $1.74 million of callable buffered monthly range accrual notes due Sept. 20, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at an annual rate of 5% for each day that the index closes at or above the barrier level, 75% of the initial index level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 30%, in which case investors will lose 1% for each 1% decline beyond 30%.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable buffered monthly range accrual notes
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| Underlying index: | S&P 500
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| Amount: | $1.74 million
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| Maturity: | Sept. 20, 2024
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| Coupon: | 5% for each day that the index closes at or above the barrier level; payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 30%, in which case 1% loss for every 1% that index declines beyond 30%
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| Call option: | At par on any interest payment date after one year
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| Initial index level: | 2,385.26
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| Barrier level: | 1,669.682, 70% of initial level
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | Goldman Sachs & Co.
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| Fees: | 4.4%
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| Cusip: | 40054KZT6
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