Chicago, May 21 – GS Finance Corp. priced $1.4 million of callable contingent coupon notes due May 3, 2024 linked to 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 at a rate of 6.25% per year if each index closes at or above 60% of its initial level on the observation date for that quarter.
The notes are callable at par on any coupon payment date.
If each index finishes at or above 60% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worse 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: | Russell 2000 and S&P 500
|
| Amount: | $1,402,000
|
| Maturity: | May 3, 2024
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| Coupon: | 6.25% per year; payable each quarter that each index closes at or above 60% of its initial level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless either index falls by more than 40%, in which case full exposure to decline of worse performing index
|
| Call option: | At par on any coupon payment date
|
| Initial levels: | 1,591.211 for Russell and 2,945.83 for S&P
|
| Trigger level: | 60% of initial underlier level
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.181%
|
| Cusip: | 40056FAQ8
|
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