By Kiku Steinfeld
Chicago, Feb. 1 – GS Finance Corp. priced $1.3 million of callable contingent coupon index-linked notes due Oct. 25, 2023 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 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 annual rate of 9.25% if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly coupon payment date.
The payout at maturity will be par plus the final coupon unless any index closes below its 60% barrier level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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 index-linked notes
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Indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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Amount: | $1.3 million
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Maturity: | Oct. 25, 2023
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Coupon: | 9.25%, payable quarterly if each index closes at or above coupon barrier on observation date
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Price: | Par
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Call option: | At par plus any coupon due on any quarterly coupon payment date
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Payout at maturity: | Par plus coupon unless any index closes below barrier value during life of notes and any index finishes below initial level, in which case 1% loss for each 1% decline of worse performing index from initial level
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Initial levels: | 4,482.73 for S&P, 14,846.46 for Nasdaq and 2,024.037 for Russell
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Coupon barriers: | 60% of initial levels
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Barrier values: | 60% of initial levels
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Pricing date: | Jan. 20
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Settlement date: | Jan. 25
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.37%
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Cusip: | 40057KU84
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