By William Gullotti
Buffalo, N.Y., Nov. 8 – GS Finance Corp. priced $4.89 million of 0% index-linked notes due Nov. 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.
The notes will pay a contingent coupon of 9% for the first year only, payable monthly, if the index closes at or above 85% of its initial level on every trading day during the relevant observation period.
If every coupon is paid, signifying that the index has closed at or above 85% of its initial level on every trading day for the first year, the notes will be automatically called at par plus the final coupon.
If the notes have not been called, the payout at maturity will be par plus the sum of the index return and 15%.
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: | $4,893,000
|
| Maturity: | Nov. 4, 2027
|
| Coupon: | 9% per annum for first year, payable monthly if the index closes at or above 85% of its initial level on every trading day during the relevant observation period
|
| Price: | Par
|
| Payout at maturity: | Par plus the sum of the index return and 15%
|
| Call: | Automatically at par plus final coupon if the index closes at or above 85% of its initial level on every trading day from, but excluding, Oct. 31 up to, and including, Oct. 31, 2024
|
| Initial level: | 4,193.8
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40057WRP4
|
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