By Wendy Van Sickle
Columbus, Ohio, April 4 – GS Finance Corp. priced $2.26 million of callable range accrual notes due March 31, 2032 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The coupon will be payable monthly at an annual rate for each day the index closes at or above its 75% barrier level. The annual rate will be 7% for the first 60 months, 8% for the next 60 months and 9% for the final 60 months.
The payout at maturity will be par, unless the index falls by more than 50%, in which case investors will be fully exposed to the index decline.
The notes will be callable at par on any interest payment date after one year.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group Inc.
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| Issue: | Callable range accrual notes
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| Underlying index: | S&P 500
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| Amount: | $2,256,000
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| Maturity: | March 31, 2032
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| Coupon: | Payable monthly at annual rate for each day the index closes at or above its 75% barrier level; annual rate will be 7% for the first 60 months, 8% for the next 60 months and 9% for the final 60 months
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| Price: | Par
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| Call: | At par on any interest payment date after one year
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| Payout at maturity: | Par unless index falls by more than 50%, in which case full exposure to the decline
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| Initial index level: | 2,361.13
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| Barrier level: | 1,770.8475, 75% of its initial level
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Agents: | Goldman Sachs & Co.
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| Fees: | 4.55%
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| Cusip: | 40054KYQ3
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