By Sarah Lizee
Olympia, Wash., Jan. 15 – GS Finance Corp. priced $1.27 million of callable contingent coupon notes due Jan. 16, 2024 linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 6.35% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period.
The notes will be callable in whole at par on any coupon payment date beginning in January 2020 up to the payment date in October 2023.
If each index finishes at or above its barrier level, 60% of its initial level, the payout at maturity will be par plus any coupon.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Dow Jones Industrial Average, Russell 2000 index and S&P 500 index
|
| Amount: | $1,273,000
|
| Maturity: | Jan. 16, 2024
|
| Contingent coupon: | 6.35% per year, payable quarterly if each index closes at or above coupon barrier level on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above barrier level, par plus any coupon; otherwise, full exposure to losses of least-performing index
|
| Call option: | At par on any coupon payment date beginning in January 2020 and ending in October 2023
|
| Initial levels: | 23,995.95 for Dow, 1,447.385 for Russell and 2,596.26 for S&P
|
| Coupon barriers: | 60% of initial levels
|
| Barrier levels: | 60% of initial levels
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 16
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.975%
|
| Cusip: | 40056EP44
|
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