By William Gullotti
Buffalo, N.Y., Nov. 16 – GS Finance Corp. priced $2.61 million of callable contingent coupon index-linked notes due Sept. 26, 2024 tied to the Nasdaq-100 Technology Sector index, the S&P 500 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 an annual rate of 18% if each index closes at or above the coupon trigger level, 75% of the initial level, on every trading day during the observation period.
The notes may be called at par plus any coupon due on any quarterly call observation date after six months.
If the notes have not been called and each index finishes at or above its 75% trigger buffer level, the payout at maturity will be par plus any coupon otherwise due.
Otherwise, investors will be fully exposed to the decline of the worst performer 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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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 Technology Sector index
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| Amount: | $2.61 million
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| Maturity: | Sept. 26, 2024
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| Coupon: | 18% annualized rate, payable quarterly if each index closes at or above coupon trigger level on every trading day during the observation period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger buffer level, par plus any coupon due; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | At par plus any coupon due on any quarterly call observation date after six months
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| Initial index levels: | 3,693.23 for S&P, 1,679.59 for Russell, 5,838.356 for Nasdaq Tech
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| Trigger buffer levels: | 75% of initial levels
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| Coupon trigger levels: | 75% of initial levels
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057NBG1
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