By Wendy Van Sickle
Columbus, Ohio, Dec. 10 – GS Finance Corp. priced $654,000 of autocallable contingent coupon notes due Dec. 5, 2022 linked to the S&P 500 index and the Russell 2000 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 contingent semiannual coupon if each index closes at or above its 65% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 6.5%.
Starting in June 2020, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any determination date.
The payout at maturity will be par plus any coupon due unless either index finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
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: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $654,000
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| Maturity: | Dec. 5, 2022
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| Contingent coupon: | Payable semiannually if each index closes at or above 65% coupon trigger level on the determination date for that period; annual coupon rate is 6.5%
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due unless either index finishes below 65% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on observation date
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| Initial index levels: | 1,634.104 for Russell, 3,153.63 for S&P
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| Pricing date: | Nov. 27
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| Settlement date: | Dec. 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40056XR81
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