By William Gullotti
Buffalo, N.Y., May 26 – GS Finance Corp. priced $2.23 million of callable contingent coupon equity-linked notes due May 23, 2024 linked to the shares of Apple Inc., 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 quarterly coupon at an annualized rate of 11% if the stock closes at or above the coupon barrier price, 65% of the initial price, on the valuation date for that period.
The notes are callable at par plus any contingent coupon otherwise due on any quarterly call valuation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares finish below the 65% barrier level, in which case investors will be fully exposed to decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Apple Inc.
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| Amount: | $2,227,000
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| Maturity: | May 23, 2024
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| Coupon: | 11% per year, payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case investors will be fully exposed to decline
|
| Call: | At par plus any coupon due on any quarterly call valuation date after six months
|
| Initial share price: | $137.59
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| Coupon barrier price: | 65% of initial share price
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| Barrier level: | 65% of initial share price
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| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.65%
|
| Cusip: | 40057M4P1
|
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