By Wendy Van Sickle
Columbus, Ohio, May 19 – GS Finance Corp. priced $3 million of callable contingent coupon equity-linked notes due Oct. 23, 2023 linked to the common stock of ON Semiconductor Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon paid quarterly at an annualized rate of 15.2% on the first payment date and 10.12% on the second, if the stock closes above the 59.9% coupon trigger price on the related observation date.
The securities may be called at par on any quarterly coupon payment date.
If the stock gains or ends above its 59.9% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 equity-linked notes
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| Underlying stock: | ON Semiconductor Corp.
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| Amount: | $3 million
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| Maturity: | Oct. 23, 2023
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| Coupon: | Payable quarterly at annualized rate of 15.2% on first date and 10.12% on second if stock closes above coupon trigger price on related observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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| Call: | At par on any quarterly coupon payment date
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| Initial level: | $83.04
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| Coupon trigger price: | 59.9% of initial level
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| Downside threshold: | 59.9% of initial level
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| Pricing date: | May 16
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| Settlement date: | May 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057RWD6
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