By Kiku Steinfeld
Chicago, Oct. 4 – GS Finance Corp. priced $1 million of callable contingent coupon notes due Sept. 17, 2024 linked to the SPDR S&P biotech exchange-traded fund and SPDR S&P oil & gas exploration & production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at an annualized rate of 3.6% if each underlier closes at or above 80% of its initial level on the observation date for that period.
The notes are callable at par plus any coupon on any monthly observation date after one year.
If the notes are not redeemed, the payout at maturity will be par plus any coupon unless either underlier finishes below 80% of its initial level, in which case investors will receive par.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying funds: | SPDR S&P Biotech ETF, SPDR S&P Oil & Gas ETF
|
| Amount: | $1,000,000
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| Maturity: | Sept. 17, 2024
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| Coupon: | 3.6%, payable each month that each underlier closes at or above 80% of its initial level on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless either underlier finishes below 80% of initial level, in which case, par
|
| Call option: | At par on any monthly observation date after one year
|
| Initial index levels: | $82.63 for Biotech and $23.25 for Oil & Gas
|
| Pricing date: | Sept. 12
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| Settlement date: | Sept. 17
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.9%
|
| Cusip: | 40056XCV6
|
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