By Kiku Steinfeld
Chicago, Nov. 4 – GS Finance Corp. priced $478,000 of callable contingent coupon notes due Oct. 28, 2025 linked to the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes pay a contingent coupon at a rate of 6% per year if each index closes at or above 80% of its initial level on the observation date for that period.
The notes will be callable at par plus any coupon on any observation date.
If the notes are not redeemed, the payout at maturity will be par plus the coupon unless any index finishes below its buffer level, 80% of its initial level, in which case investors will be exposed to the decline of the least performing index beyond 20%.
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: | Dow Jones industrial average and Nasdaq-100
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| Amount: | $478,000
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| Maturity: | Oct. 28, 2025
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| Coupon: | 6% per year; payable each six months that each index closes at or above 80% of its initial level on observation date for that period
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| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below 80% of initial level, in which case exposure to loss of least performing index beyond 20%
|
| Call option: | Par plus any coupon on any observation date
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| Initial index levels: | 11,692.57 for Nasdaq, 28,335.57 for Dow
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| Coupon trigger levels: | 80% of initial levels
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 28
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.85%
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| Cusip: | 40057EEC7
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