By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – GS Finance Corp. priced $25.18 million of index-linked notes due Nov. 14, 2023 tied to 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.
For the first year, the notes will pay a monthly coupon at an annualized rate of 5.2584% if the index closes above 85% of its initial level every day that month. After the first year, no coupon will be paid.
The notes will be called on the final coupon date in November 2020 at par plus the final coupon if the index has closed above 85% of its initial level on every day during the life of the notes up to that point.
If the notes are not called, the payout at maturity will be par plus 1.1765 times the index return plus 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
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| Underlying index: | S&P 500
|
| Amount: | $25,179,000
|
| Maturity: | Nov. 14, 2023
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| Coupon: | For first year, monthly coupon at an annualized rate of 5.2584% if index closes above 85% of initial level every day that month; after first year, no coupon will be paid
|
| Call: | At par plus final coupon if index in November 2020 if index has closed above 85% of initial level every day to that point
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.1765 times the index return plus 15%
|
| Initial index level: | 3,093.08
|
| Pricing date: | Nov. 8
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| Settlement date: | Nov. 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.3%
|
| Cusip: | 40056XKX3
|
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