By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – GS Finance Corp. priced $544,000 of contingent coupon notes due Sept. 29, 2023 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 an annual rate of 5.5% if the index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
If the index finishes at or above its barrier level, the payout at maturity will be par plus the final coupon. If the index finishes below its barrier level, investors will lose 1% for every 1% that the index declines from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent coupon notes
|
| Underlying index: | Russell 2000
|
| Amount: | $544,000
|
| Maturity: | Sept. 29, 2023
|
| Coupon: | 5.5%, payable quarterly if index closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above barrier level, par plus final coupon; if index finishes below barrier level, 1% loss for every 1% that index declines from initial level
|
| Initial level: | 1,450.781
|
| Barrier level: | 70% of initial level
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.625%
|
| Cusip: | 40054LQG2
|
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