Chicago, June 15 – GS Finance Corp. priced $19.54 million of index-linked notes due June 4, 2027 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.
For the first year only, investors will be paid a monthly contingent coupon of 8.94% if the index closes above 85% of its initial level on every trading day during the monthly observation period.
The notes will be automatically called on the final coupon determination date on May 31, 2024 if the index has never closed below 85% of its initial level to that point. The payout will be par plus the last coupon due. This also means that all possible coupons were paid.
The payout at maturity will be par plus 1.1765 times the index return plus a 15% buffer. If the final level is less than 85% of its initial level, the return on the notes will be negative.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $19,538,000
|
| Maturity: | June 4, 2027
|
| Coupon: | 8.94% annual rate, payable monthly for only the first year if index closes above 85% of initial level on every trading day during monthly observation period
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.1765 times index return plus 15% buffer
|
| Call: | Automatically on May 31, 2024 if index never closed below 85% of initial level to that point, at par plus last coupon due
|
| Initial level: | 4,179.83
|
| Coupon barrier level: | 85% of initial level
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 40057RW20
|
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