By Sarah Lizee
Olympia, Wash., Aug. 13 – GS Finance Corp. priced $5 million of callable contingent coupon notes due Aug. 13, 2029 linked to the Dow Jones industrial average 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 month, the notes pay a contingent coupon at a rate of 9.4% per year if each index closes at or above 75% of its initial level on the observation date for that period.
The notes are callable at par on any coupon payment date after six months.
If the notes are not redeemed, the payout at maturity will be par, unless either index finishes below 70% of its initial level, in which case investors will be exposed to the loss of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average and S&P 500 index
|
| Amount: | $5 million
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| Maturity: | Aug. 13, 2029
|
| Coupon: | 9.4% per year; payable each month that each index closes at or above 75% of its initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon, unless either index finishes below 70% of initial level, in which case exposure to loss of least performing index beyond 20%
|
| Call option: | At par on any coupon payment date after one year
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| Initial index levels: | 26,029.52 for Dow, 2,881.77 for S&P
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 12
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.45%
|
| Cusip: | 40056X2U9
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