Chicago, Feb. 13 – GS Finance Corp. priced $570,000 of callable contingent coupon notes due Jan. 31, 2029 linked to the Euro Stoxx 50 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 initial annual rate of 10.5% if each index closes at or above 75% of its initial level on the observation date. The annual rate steps up to 12% after five years.
The notes are callable at par plus any coupon on any coupon payment date beginning in January 2020 up to October 2028.
The payout at maturity will be par plus the final coupon if both indexes finish at or above 75% of their initial levels. If the lowest performing index finishes above 60% of its initial value but not above 75%, the return will be par. If either index finishes below 60%, investors will be exposed to the losses of the least 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: | Euro Stoxx 50 and Russell 2000
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| Amount: | $570,000
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| Maturity: | Jan. 31, 2029
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| Coupon: | 10.5% initially, payable each quarter that each index closes at or above 75% of its initial level on determination date; rate steps up to 12% after five years
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if both indexes finish above 75%; if the lowest performing index finishes below 75% but above 60%, par; otherwise investors will be fully exposed to the decline of the lesser performing index
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| Call option: | At par plus any coupon on any coupon payment date beginning in January 2020 through October 2028
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| Initial levels: | 3,153.42 for Stoxx, 1,471.448 for Russell
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.45%
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| Cusip: | 40056ER83
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