New Issue: Goldman prices $6.45 million 7.5% contingent income callables on S&P

By Susanna Moon

Chicago, March 16 – GS Finance Corp. priced $6.45 million of contingent income callable securities due March 2, 2028 linked to 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 7.5% if the index closes at or above its 75% coupon barrier on the observation date for that quarter.

The notes are callable at par on any review date after one year.

The payout at maturity will be par unless the index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses.

The guarantor is Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as the dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Contingent income callable securities
Underlying asset:	S&P 500
Amount:	$6,452,000
Maturity:	March 2, 2028
Coupon:	7.5% annualized, payable quarterly if index closes at or above 75% coupon barrier on review date for that quarter
Price:	Par
Payout at maturity:	If index finishes at or above 60% downside threshold, par; otherwise, 1% loss for each 1% decline
Call option:	At par on any quarterly call date beginning March 5, 2019
Initial level:	2,713.83
Coupon barrier:	2,035.3725, 75% of initial level
Downside threshold:	1,628.298, 60% of initial level
Pricing date:	Feb. 28
Settlement date:	March 5
Agent:	Goldman Sachs & Co. LLC
Fees:	3.9%
Cusip:	40055AML8

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