By William Gullotti
Buffalo, N.Y., Jan. 22 – GS Finance Corp. priced $1.42 million of 0% callable contingent coupon underlier-linked notes due Jan. 19, 2027 linked to the lesser performing of the S&P 500 index and the iShares 20+ Year Treasury Bond ETF, 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 monthly contingent coupon at an annual rate of 8% if each underlier closes at or above its 70% coupon trigger level on the related observation date.
The company can redeem the notes at its option at par plus any coupon due on any monthly coupon payment date starting after six months.
If each underlier finishes at or above 70% of its initial level, the payout will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon underlier-linked notes
|
| Underlying assets: | S&P 500 index, iShares 20+ Year Treasury Bond ETF
|
| Amount: | $1,418,000
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| Maturity: | Jan. 19, 2027
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| Coupon: | 8% annual rate, payable monthly if all underliers close at or above coupon trigger levels on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if all underliers finish at or above trigger buffer levels; otherwise, full exposure to losses of worst performer
|
| Call option: | At par plus any coupon due on any monthly coupon payment date starting after six months
|
| Initial levels: | 4,780.24 for S&P, $96.71 for ETF
|
| Coupon trigger levels: | 70% of initial levels
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| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 17
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 40057XUU7
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