By Kiku Steinfeld
Chicago, March 27 – GS Finance Corp. priced $535,000 of contingent coupon index-linked notes due Dec. 29, 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.
Each month, the notes pay a contingent coupon at an annual rate of 8.2% if the index’s closing level is greater than or equal to 70% of its initial level on the observation date for that period.
The payout at maturity will be par plus the final coupon unless the index declines by more than 30%, in which case investors will lose 1% for every 1% that the index declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent coupon index-linked notes
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| Underlying index: | S&P 500
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| Amount: | $535,000
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| Maturity: | Dec. 29, 2023
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| Coupon: | 8.2%, payable monthly if index’s closing level is greater than or equal to 70% of initial level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless index declines by more than 30%, in which case 1% loss for every 1% it declines from initial level
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| Initial level: | 4,071.70
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| Trigger level: | 70% of initial level
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| Pricing date: | Dec. 2
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| Settlement date: | Dec. 7
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057P5C2
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