By Angela McDaniels
Tacoma, Wash., Sept. 6 – GS Finance Corp. priced $6.09 million of notes due Sept. 9, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
From October 2019 to September 2021, the notes will pay a monthly contingent coupon at the rate of 4.25% per year if the index’s closing level is greater than or equal to 80% of the initial index level on each day during that month. If the index’s closing level falls below 80% of the initial index level, investors will not receive a coupon that month or any subsequent month.
The notes will be automatically called at par if the closing level of the index is greater than or equal to 80% of the initial index level on every trading day from the pricing date to and including Sept. 4, 2021.
If the notes are not automatically called, the payout at maturity will be par plus (ii) the product of (a) $1,000 times (b) the sum of the index return plus 20%. This payout will be less than par if the index declines by more than 20%.
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: | Notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,088,000
|
| Maturity: | Sept. 9, 2024
|
| Coupon: | From October 2019 to September 2021, notes will pay monthly contingent coupon at rate of 4.25% per year if index’s closing level is greater than or equal to 80% of initial index level on each day during that month; if index’s closing level falls below 80% of initial index level, no coupon paid that month or any subsequent month
|
| Price: | Par
|
| Payout at maturity: | Par plus (ii) product of (a) $1,000 times (b) sum of index return plus 20%
|
| Call: | Automatically at par if closing level of index is greater than or equal to 80% of initial index level on every trading day from pricing date to and including Sept. 4, 2021
|
| Initial level: | 2,937.78
|
| Pricing date: | Sept. 4
|
| Settlement date: | Sept. 9
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.35%
|
| Cusip: | 40056XCL8
|
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