By Kiku Steinfeld
Chicago, Sept. 17 – GS Finance Corp. priced $860,000 of callable contingent coupon asset-linked notes due June 30, 2026 linked to the least performing of the S&P 500 index, the SPDR Gold Trust and the iShares Silver Trust, 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 7.75% if each asset closes at or above its 70% coupon trigger 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 coupon payment date after one year.
The payout at maturity will be par unless any asset finishes below 70% of its initial level, in which case investors will lose 1% for each 1% decline of the least performing asset.
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 asset-linked notes
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| Underlying assets: | S&P 500 index, SPDR Gold Trust and iShares Silver Trust
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| Amount: | $860,000
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| Maturity: | June 30, 2026
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| Contingent coupon: | 7.75% per year, payable quarterly if each asset closes at or above coupon trigger level on determination date
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below trigger level, in which case investors will lose 1% for each 1% decline of least performing asset
|
| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date after one year
|
| Initial levels: | $166.59 for Gold, $24.18 for Silver, 4,280.70 for S&P
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| Coupon trigger levels: | 70% of initial levels
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| Trigger levels: | 70% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.59%
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| Cusip: | 40057HMX5
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