By Wendy Van Sickle
Columbus, Ohio, March 20 – GS Finance Corp. priced $1.21 million of callable contingent coupon notes due March 20, 2027 linked to the worse performing of the Russell 2000 index and 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 pay a contingent semiannual coupon at the rate of 8.25 % per year if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that period.
The notes are callable at par of $1,000 on any contingent coupon payment date after one year.
The payout at maturity will be par plus the final coupon payment unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to the loss of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| 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: | $1.21 million
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| Maturity: | March 20, 2027
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| Coupon: | 8.25% per year, payable semiannually if each index closes at or above 60% of initial level on determination date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either index declines by more than 50%, in which case full exposure to decline of lesser-performing index
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| Call option: | At par on any interest payment date after one year
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| Initial levels: | 2,385.26 for S&P, 1,382.830 for Russell
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| Pricing date: | March 15
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| Settlement date: | March 22
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 2.05%
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| Cusip: | 40054L2D5
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