By Wendy Van Sickle
Columbus, Ohio, April 29 – GS Finance Corp. priced $6.02 million of callable contingent coupon notes due April 29, 2021 linked to the S&P 500 index and the Russell 2000 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 quarterly coupon at an annual rate of 7.4% if each index closes above the 60% coupon barrier level on the observation date for that quarter.
The notes will be callable at par plus any coupon due on any payment date.
If both indexes close above the 70% barrier, the payout at maturity will be par plus the final coupon; if either index falls by more than 30% but not by more than 50%, the payout will be par. Otherwise, investors will be fully exposed to the loss of the worse performing index.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $6,018,000
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| Maturity: | April 29, 2021
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| Coupon: | 7.4%, payable quarterly if each index closes at or above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposure to worse performing index’s loss
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| Call: | At par plus any coupon due on any coupon payment date
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| Initial levels: | 2,091.70 for S&P 500, 1,150.728for Russell 2000
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| Coupon barrier: | 60% of initial levels
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| Trigger level: | 50% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 29
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.6%
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| Cusip: | 40054KAR7
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