By Sarah Lizee
Olympia, Wash., July 10 – GS Finance Corp. priced $3.18 million of callable contingent coupon ETF-linked notes due July 6, 2022 linked to the iShares Silver Trust and the SPDR Gold Trust, 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 9.6% if each ETF closes at or above its 70% coupon trigger level on the determination date for that period.
The notes may be callable at par plus any contingent coupon due at the issuer’s option on any coupon payment date.
If the notes are not called, the payout will be par unless either fund falls beyond 30%, in which case investors will be exposed to the decline of the lesser performing fund.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon ETF-linked notes
|
| Underlying ETFs: | iShares Silver Trust and SPDR Gold Trust
|
| Amount: | $3,177,000
|
| Maturity: | July 6, 2022
|
| Contingent coupon: | 9.6% per year, payable quarterly if each ETF closes at or above coupon trigger level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless either fund falls beyond 30%, in which case investors will be exposed to the decline of the lesser performing fund
|
| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date
|
| Initial ETF levels: | $17.01 for silver ETF, $167.37 for gold ETF
|
| Coupon trigger levels: | 70% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.925%
|
| Cusip: | 40057CD99
|
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