By Susanna Moon
Chicago, Feb. 4 – GS Finance Corp. priced $1.43 million of callable contingent coupon notes due Jan. 31, 2022 linked to the lesser performing of the SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 14.5% if each underlying fund closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par on any review date after one year.
The payout at maturity will be par unless either fund closes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.
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 indexes: | SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,431,000
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| Maturity: | Jan. 31, 2022
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| Coupon: | 14.5% annualized, payable semiannually if each fund closes at or above 70% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | If each fund finishes at or above 70% trigger level, par; otherwise, 1% loss for each 1% decline of worst performing fund
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| Call option: | At par on any quarterly call review date from July 2019 through July 2021
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| Initial levels: | $80.86 for biotech fund, $30.29 for oil fund
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| Trigger levels: | 70% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40056ETV0
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