Chicago, June 15 – GS Finance Corp. priced $4.3 million of callable contingent coupon index-linked notes due June 5, 2028 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 quarterly coupon at an annual rate of 8.5% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
After one year, the notes will be callable at the option of the issuer on any quarterly coupon date at par plus any coupon otherwise due.
At maturity, if the notes have not been previously redeemed, they will be redeemed at par plus the coupon due if the index closes above its 70% trigger buffer level.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $4,303,000
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| Maturity: | June 5, 2028
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| Coupon: | 8.5% annualized rate, payable quarterly if the index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon due if index closes above trigger buffer level; otherwise, full exposure to losses of index
|
| Call option: | At par plus any coupon due on any quarterly review date after one year
|
| Initial index level: | 4,179.83
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| Coupon trigger level: | 70% of initial level
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 40057RQL5
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