By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – GS Finance Corp. priced $1.42 million of callable contingent coupon notes due Oct. 25, 2022 linked to the S&P 500 index and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes pay a contingent coupon at an annualized rate of 12.6% if each underlier closes at or above 65% of its initial level on the observation date for that period
The notes are callable at par on any coupon payment date.
If the notes are not redeemed, the payout at maturity will be par plus any coupon unless either underlier finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the least performing underlier.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying underliers: | S&P 500 index and SPDR S&P Biotech ETF
|
| Amount: | $1,419,000
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| Maturity: | Oct. 25, 2022
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| Coupon: | 12.6% annualized, payable each six months that each underlier closes at or above 65% 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 65% of initial level, in which case full exposure to loss of least performing underlier
|
| Call option: | At par on any coupon payment date
|
| Initial index levels: | 2,986.2 for index and $78.65 for ETF
|
| Pricing date: | Oct. 18
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| Settlement date: | Oct. 25
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.25%
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| Cusip: | 40056XEY8
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