By Taylor Fox
New York, Nov. 16 – GS Finance Corp. priced $2.4 million of callable contingent coupon underlier-linked notes due Oct. 31, 2024 linked to the least performing of the iShares MSCI Emerging Markets ETF, the Russell 2000 Value index and 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.5% if each asset closes at or above its 70% 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 asset finishes above 70% of its initial level, the payout will be par plus the final coupon.
Otherwise, investors will lose 1.4286% for every 1% decline of the worst performer beyond the 30% buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon underlier-linked notes
|
| Underlying assets: | iShares MSCI Emerging Markets ETF, S&P 500, Russell Value 2000 index
|
| Amount: | $2,400,000
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| Maturity: | Oct. 31, 2024
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| Contingent coupon: | 8.5% per year, payable quarterly if each asset closes at or above coupon buffer level on quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes above 70% of its initial level, par plus coupon; otherwise, 1.4286% loss for every 1% decline beyond 30% buffer
|
| Call option: | At par plus any contingent coupon at issuer’s option on any quarterly coupon payment date
|
| Initial index levels: | $45.72 for ETF, 3,400.97 for S&P and 1,608.059 for Russell
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| Coupon buffer levels: | 70% of initial levels
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| Buffer levels: | 70% of initial levels
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| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 29
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.55%
|
| Cusip: | 40057EH67
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