By Sarah Lizee
Olympia, Wash., March 18 – GS Finance Corp. priced $739,000 of callable contingent coupon index-linked notes due March 17, 2025 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 quarterly coupon at an annualized rate of 7.5% if each index closes at or above its 80% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due on any March coupon date, starting in March 2021.
If the notes are not called and the return of each index if greater than or equal to 85% of its initial level, the payout will be par plus the final coupon.
If the indexes finish at or above 85% of their initial levels, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $739,000
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| Maturity: | March 17, 2025
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| Contingent coupon: | 7.5% per year, payable quarterly if each index closes at or above coupon trigger level on determination date for period
|
| Price: | Par
|
| Payout at maturity: | If the indexes finish at or above 85% of their initial levels, par; 1% for every 1% decline of the lesser performing index beyond 15%
|
| Call option: | At par plus any contingent coupon due on any March coupon date, starting in March 2021
|
| Initial index levels: | 1,264.296 for Russell, 2,741.38 for S&P
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| Coupon trigger levels: | 80% of initial levels
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| Buffer levels: | 85% of initial levels
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| Pricing date: | March 11
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| Settlement date: | March 16
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.85%
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| Cusip: | 40056YSB1
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