By Wendy Van Sickle
Columbus, Ohio, Nov. 8 – GS Finance Corp. priced $15 million of 9% trigger callable yield notes due Dec. 28, 2023 linked to the lesser-performing of the S&P 500 Value index and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes are callable at par on any monthly coupon payment date after three months.
The payout at maturity will be par of $10 unless the lesser-performing asset finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline in that asset from its initial level.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger callable yield notes
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| Underlying assets: | iShares Russell 2000 ETF, S&P 500 Value index
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| Amount: | $15 million
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| Maturity: | Dec. 28, 2023
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| Coupon: | 9% per year, payable monthly
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| Price: | Par of $10
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| Payout at maturity: | Par unless the lesser-performing asset finishes below downside threshold, in which case 1% loss for each 1% decline of that asset from initial level
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| Call option: | At par monthly on any coupon date after three months
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| Initial levels: | $171.39 for ETF, 1,331.21 for index
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| Downside thresholds: | $102.83 for ETF, 798.73 for index, 60% of initial levels
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 36264Q651
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