By Taylor Fox
New York, Nov. 16 – GS Finance Corp. priced $1.5 million of callable contingent coupon index-linked notes due Oct. 21, 2025 linked to the least performing of the Nasdaq-100 index and the Euro Stoxx Banks 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 9.25% if each index closes at or above its 65% coupon buffer level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any quarterly coupon payment date.
If each index finishes above 65% of its initial level, the payout will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | Euro Stoxx Banks index and Nasdaq-100
|
| Amount: | $1,500,000
|
| Maturity: | Oct. 21, 2025
|
| Contingent coupon: | 9.25% per year, payable quarterly if each index closes at or above coupon buffer level on determination date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 65% of its initial level, par plus coupon; otherwise, 1% loss for every 1% decline of worst performer from initial level
|
| Call: | At par plus any contingent coupon at issuer’s option on any quarterly coupon payment date
|
| Initial index levels: | 55.55 for Euro Stoxx and 11,852.17 for Nasdaq
|
| Coupon buffer levels: | 65% of initial levels
|
| Trigger buffer levels: | 65% of initial levels
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.85%
|
| Cusip: | 40057EG27
|
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