By Wendy Van Sickle
Columbus, Ohio, Feb. 29 – GS Finance Corp. priced $2.1 million of callable contingent coupon equity-linked notes due Oct. 29, 2024 linked to the common stock of EOG Resources, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon if the stock closes at or above its 70% coupon trigger price on the related observation date. The coupon will be $29.75 per $1,000 principal amount on the first two payment dates and $19.833 on the final payment date.
The securities may be called at par on any quarterly coupon payment date.
If the stock gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | EOG Resources, Inc.
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| Amount: | $2.1 million
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| Maturity: | Oct. 29, 2024
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| Coupon: | Payable quarterly if stock closes above coupon trigger price on related observation date; rate will be $29.75 per $1,000 principal amount on the first two payment dates and $19.833 on the final payment date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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| Call: | At par on any quarterly coupon payment date
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| Initial level: | $116.40
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| Coupon trigger level: | 70% of initial level
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| Downside threshold: | 70% of initial level
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 27
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 40057YCU5
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