By Wendy Van Sickle
Columbus, Ohio, July 31 – GS Finance Corp. priced $1.99 million of callable contingent coupon notes due July 26, 2023 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 are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annual rate of 5.3% if each index closes at or above 60% of its initial level on the observation date.
The notes are callable at par on any coupon payment date after one year.
If each index finishes at or above 60% of its initial level, the payout at maturity will be par plus the final coupon.
Otherwise, the payout will be par plus the return of the least-performing index with full exposure to losses.
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 contingent coupon notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $1,986,000
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Maturity: | July 26, 2023
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Coupon: | 5.35%, payable each month that each index closes at or above 60% of its initial level on determination date
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Price: | Par
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Payout at maturity: | Par plus final coupon if each index finishes at or above 60% of its initial level; otherwise par plus the return of least-performing index with full exposure to losses
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Call option: | At par on any coupon payment date after one year
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Initial index levels: | 2,806.98 for S&P 500, 1,698.414 for Russell
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Pricing date: | July 23
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Settlement date: | July 26
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.725%
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Cusip: | 40055QMQ2
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