By Marisa Wong
Los Angeles, Oct. 2 – GS Finance Corp. priced $1.9 million of callable contingent coupon index-linked notes due Sept. 24, 2021 linked 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.
Each quarter, the notes pay a contingent coupon at an annualized rate of 8.15% if the index closes at or above 90% of its initial level on the observation date for that quarter.
The notes are callable at par plus any coupon due on any coupon payment date after six months.
The payout at maturity will be par plus the final coupon unless the index finishes below 90% of its initial level, in which case investors will lose 1% for every 1% index decline beyond 10%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.9 million
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| Maturity: | Sept. 24, 2021
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| Coupon: | 8.15% per year, payable each quarter that index closes at or above coupon trigger level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the index finishes below 90% of its initial level, in which case 1% loss for every 1% index decline beyond 10%
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| Call option: | At par plus any coupon due on any coupon payment date after six months
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| Initial index level: | 3,281.06
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| Coupon trigger level: | 90% of initial level
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| Buffer level: | 90% of initial level
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.85%
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| Cusip: | 40057CWQ0
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