By William Gullotti
Buffalo, N.Y., March 3 – GS Finance Corp. priced $1.73 million of 0% index-linked notes due March 1, 2028 linked to the performance of 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.
On each monthly observation date, the underlier return will be calculated by taking the quantity of the index’s closing level on that date less the index’s closing level on the observation date immediately prior and dividing by the previous closing level. The monthly underlier return will be expressed as a percentage.
The payout at maturity will be par plus 165% of the aggregate sum of each annual observation period’s underlier return, with the annual underlier return being the sum of the period’s 11 lowest monthly underlier returns.
Under no circumstances will investors receive less than par at maturity.
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: | Index-linked notes
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| Underlying index: | S&P 500 index
|
| Amount: | $1,725,000
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| Maturity: | March 1, 2028
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 165% of the aggregate sum of each annual observation period’s underlier return with a floor of par; the annual underlier return is the sum of the 11 lowest monthly underlier returns; the monthly underlier return is calculated by taking the quantity of the index’s closing level on a monthly observation date, subtracting the closing level of the index on the immediately previous observation date and dividing the result by the previous observation date value, expressing the result as a percentage
|
| Initial level: | 4,384.65
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| Pricing date: | Feb. 25
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| Settlement date: | March 2
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 40057LAC5
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