By Wendy Van Sickle
Columbus, Ohio, Nov. 27 – GS Finance Corp. priced $475,000 of callable contingent coupon notes due Nov. 29, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent semiannual coupon if each index closes at or above its 80% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 7.25%.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date.
If each index finishes above 80% of its initial level, the payout will be par plus the final coupon.
Otherwise, investors will be exposed to the decline of the lesser-performing index beyond 20%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $475,000
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| Maturity: | Nov. 29, 2024
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| Contingent coupon: | Payable semiannually if each index closes at or above 80% coupon trigger level on the determination date for that period; annual coupon rate is 7.25%
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| Price: | Par
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| Payout at maturity: | If each index finishes above 80% of its initial level, par plus the final coupon; otherwise, exposure to decline of the lesser performing index beyond 20%
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| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date
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| Initial index levels: | 1,588.943 for Russell, 3,110.29 for S&P
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.35%
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| Cusip: | 40056XKQ8
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