By Wendy Van Sickle
Columbus, Ohio, Nov. 22 – GS Finance Corp. priced $1.2 million contingent coupon notes due Nov. 28, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at the rate of 6.3% per year if the index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The payout at maturity will be par plus the final coupon payment, if any, unless the index finishes below 70% of its initial level, in which case investors will lose 1% for each 1% decline of the index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Issue: | Contingent coupon notes
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| Underlying index: | Russell 2000
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| Guarantor: | Goldman Sachs Group, Inc.
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| Amount: | $1,198,000
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| Maturity: | Nov. 28, 2022
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| Coupon: | 6.3% per year, payable quarterly if index closes at or above 70% of initial level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless index declines by more than 30%, in which case 1% loss for each 1% decline of index
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| Initial level: | 1,315.642
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| Pricing date: | Nov. 18
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| Settlement date: | Nov. 28
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| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.625%
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| Cusip: | 40054KN69
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