By Sarah Lizee
Olympia, Wash., May 13 – GS Finance Corp. priced $3.3 million of callable contingent coupon notes due May 14, 2029 linked to the Euro Stoxx 50 index, 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.
Each quarter, the notes pay a contingent coupon if each index’s closing level is greater than or equal to 70% of its initial level on the observation date for that period. The contingent coupon rate will be 10.85% per year.
Beginning in August, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
|
| Amount: | $3.3 million
|
| Maturity: | May 14, 2029
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| Coupon: | 10.85% per year, payable each quarter that each index’s closing level is greater than or equal to 70% of initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to any losses of the lesser performing index
|
| Call option: | Beginning in August, at par on any coupon payment date
|
| Initial index levels: | 3,350.71 for Stoxx, 1,570.057 for Russell and 2,870.72 for S&P
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| Pricing date: | May 10
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| Settlement date: | May 14
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.35%
|
| Cusip: | 40056FHB4
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