By Kiku Steinfeld
Chicago, Nov. 22 – GS Finance Corp. priced $1.02 million of callable contingent coupon notes due May 10, 2023 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.
The notes will pay a contingent quarterly coupon of 3.1% per annum if the index closes at or above its 60% coupon trigger level on the determination date for that period.
The notes can be called at par plus any contingent coupon on any quarterly coupon payment date after six months.
The payout at maturity will be par unless the index closes below 60% of its initial level, in which case investors will be fully exposed to the decline of the index beyond.
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 index: | S&P 500 index
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| Amount: | $1.02 million
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| Maturity: | May 10, 2023
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| Contingent coupon: | 3.1% annualized, payable quarterly if the index closes at or above coupon trigger level on the determination date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless index closes below 60% of its initial level, in which case investors will be fully exposed to the decline of the index
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| Call option: | At par plus any contingent coupon on any quarterly contingent coupon payment date after six months
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| Initial levels: | 4,697.53
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| Coupon trigger level: | 60% of initial level
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| Trigger level: | 60% of initial level
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 10
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057K3K7
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