By Wendy Van Sickle
Columbus, Ohio, Jan. 9 – GS Finance Corp. priced $1 million of callable contingent coupon index-linked notes due Jan. 4, 2027 tied to the S&P 500 Futures Volatility Plus Daily Risk Control index, 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 annual rate of 12% if the index closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period.
After one year, the notes will be callable at the option of the issuer on any quarterly valuation date at par plus any coupon otherwise due.
If the notes are not called and the index finishes at or above 85% of initial value, the payout will be par.
Otherwise, investors will be exposed to the index’s decline beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying index: | S&P 500 Futures Volatility Plus Daily Risk Control index
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| Amount: | $1 million
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| Maturity: | Jan. 4, 2027
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| Coupon: | 12% annualized rate, payable quarterly if the index closes at or above coupon trigger level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | If the index finishes at or above trigger buffer level, par; otherwise, investors will lose 1% for every 1% index decline beyond buffer
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| Call option: | At par plus any coupon due on any quarterly review date after one year
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| Initial index level: | 625.32
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| Buffer level: | 85% of initial level
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| Coupon trigger level: | 80% of initial level
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057XMH5
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