By Wendy Van Sickle
Columbus, Ohio, April 11 – GS Finance Corp. priced $3.61 million of callable contingent coupon notes due April 5, 2024 linked to the worse performing of the Russell 2000 index and 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.5% if each index closes at or above 60% of its initial level on the observation date for that quarter.
The notes are callable at par of $1,000 on any contingent coupon payment date after one year.
The payout at maturity will be par plus the final coupon payment, unless either index finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $3,605,000
|
| Maturity: | April 5, 2024
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| Coupon: | 7.5%, payable quarterly if each index closes at or above 60% of initial levels on determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless either index declines by more than 40%, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call option: | At par on any interest payment date after one year
|
| Initial levels: | 1,492.531 for Russell 2000 and 2,581.88 for S&P
|
| Pricing date: | April 2
|
| Settlement date: | April 5
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 1.025%
|
| Cusip: | 40055APJ0
|
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