By William Gullotti
Buffalo, N.Y., June 13 – GS Finance Corp. priced $1.99 million of contingent coupon index-linked notes due May 29, 2026 tied 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 semiannual coupon at an annual rate of 7.65% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
If the index finishes at or above its 70% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for each 1% decline of the index from initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent coupon index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,994,000
|
| Maturity: | May 29, 2026
|
| Coupon: | 7.65% annualized rate, payable semiannually if the index closes at or above coupon trigger level on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger buffer level, par plus final coupon; otherwise, full exposure to decline from initial level
|
| Initial index level: | 4,205.45
|
| Trigger buffer level: | 70% of initial level
|
| Coupon trigger level: | 70% of initial level
|
| Pricing date: | May 26
|
| Settlement date: | June 1
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40057RXD5
|
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