By Angela McDaniels
Tacoma, Wash., June 20 – GS Finance Corp. priced $1 million of callable contingent coupon notes due June 23, 2021 linked to the common stock of Dow Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 11.5% if Dow stock closes at or above its barrier level, 70% of its initial share price, on the observation date for that quarter.
From December 2019 through March 2021, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless the stock return is less than negative 30%, in which case investors will lose 1% for every 1% that the stock declines from its initial share price.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Dow Inc. (Symbol: DOW)
|
| Amount: | $1 million
|
| Maturity: | June 23, 2021
|
| Coupon: | 11.5%, payable quarterly if Dow stock closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock return is less than negative 30%, in which case 1% loss for every 1% that share price declines
|
| Call option: | At par on any coupon payment date from December 2019 through March 2021
|
| Initial share price: | $49.61
|
| Barrier level: | $34.727, 70% of initial share price
|
| Pricing date: | June 18
|
| Settlement date: | June 21
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.925%
|
| Cusip: | 40056FPN9
|
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