By Sarah Lizee
Olympia, Wash., March 26 – GS Finance Corp. priced $1 million of index-linked notes due March 27, 2023 tied to 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 will pay a 4.45% per year coupon if the closing level of the index is greater than or equal to 80% of its initial level on every trading day during the related monthly observation period. After the March 2020 coupon payment date, no coupon will be paid.
The notes will be automatically called at par plus the contingent coupon on the final coupon payment date in March 2020 if the closing level of the index is greater than or equal to 80% of the initial level on every trading day during the measurement period.
If the notes are not automatically called, the payout at maturity will be par plus the index return plus 20%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1 million
|
| Maturity: | March 27, 2023
|
| Coupon: | 4.45% per year if the closing level of the index is greater than or equal to 80% of its initial level on every trading day during the related monthly observation period; after the March 2020 coupon payment date, no coupon will be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus the index return plus 20%
|
| Call: | Automatically called at par plus the contingent coupon on the final coupon payment date in March 2020 if the closing level of the index is greater than or equal to 80% of the initial level on every trading day during the measurement period
|
| Initial level: | 2,800.71
|
| Pricing date: | March 22
|
| Settlement date: | March 27
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.3%
|
| Cusip: | 40056F4Z5
|
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