By Susanna Moon
Chicago, March 8 – GS Finance Corp. priced $2.64 million of callable contingent coupon notes due Feb. 24, 2023 linked to the least performing of 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 contingent quarterly coupon at an annual rate of 7.7% if each index closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes are callable at par on any quarterly determination date after one year.
The payout at maturity will be par unless either index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Russell 2000 and S&P 500
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| Amount: | $2,636,000
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| Maturity: | Feb. 24, 2023
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| Coupon: | 7.7% annualized, payable quarterly if each index closes at or above 60% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 60% downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call option: | At par on any quarterly determination date from February 2019 to November 2022
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| Initial levels: | 1,531.836 for Russell and 2,701.33 for S&P
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| Trigger levels: | 60% of initial levels
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40055AMD6
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