By Marisa Wong
Morgantown, W.Va., April 17 – GS Finance Corp. priced $3.45 million of callable contingent coupon notes due April 3, 2023 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 pay a contingent quarterly coupon at an annual rate of 7% if each underlier closes at or above 60% of its initial level on the related quarterly observation date.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par plus the final coupon unless either underlier falls by more than 40%, in which case the payout will be par plus the return of the worse performing underlier with full exposure to losses.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying assets: | S&P 500 index, Russell 2000 index
|
| Amount: | $3,451,000
|
| Maturity: | April 3, 2023
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| Coupon: | 7%, payable each quarter that each underlier closes at or above 60% of its initial level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless either underlier falls by more than 40%, in which case par plus the return of the worse performing underlier with full exposure to losses
|
| Call option: | At par on any coupon payment date after one year
|
| Pricing date: | March 28
|
| Settlement date: | April 2
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.1%
|
| Cusip: | 40055ARH2
|
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