By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – GS Finance Corp. priced $891,000 of callable contingent coupon notes due Aug. 15, 2022 linked to the Euro Stoxx 50 index, the SPDR S&P Bank ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent monthly coupon at an annual rate of 7.8% if each asset closes at or above 60% of its initial level on the observation date.
The notes are callable at par on any coupon payment date after one year.
If each asset finishes at or above 60% of its initial level, the payout at maturity will be par plus the final coupon.
Otherwise, the payout will be par plus the return of the least-performing asset with full exposure to losses.
Goldman Sachs & Co. 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 assets: | Russell 2000 index, SPDR S&P Bank ETF, SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $891,000
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| Maturity: | Aug. 15, 2022
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| Coupon: | 7.8%, payable each month that each asset closes at or above 60% of its initial level on determination date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each asset finishes at or above 60% of its initial level; otherwise par plus the return of least-performing asset with full exposure to losses
|
| Call option: | At par on any coupon payment date after one year
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| Initial levels: | 3,426.28 for Stoxx, $48.83 for bank ETF, $41.71 for oil and gas ETF
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.3%
|
| Cusip: | 40055QSV5
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