By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – GS Finance Corp. priced $2 million of callable contingent coupon underlier-linked notes due Jan. 2, 2025 linked to the Euro Stoxx 50 index, the Nasdaq-100 index and the iShares MSCI Emerging Markets ETF, 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 7% if each underlier closes at or above 60% of its initial level on the observation date for that period.
The notes are callable at par plus any coupon on any quarterly coupon payment date beginning in June 2020.
If the notes are not redeemed early, the payout at maturity will be par plus the coupon unless any underlier finishes below 60% 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon underlier-linked notes
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| Underlying underliers: | Euro Stoxx 50 index, Nasdaq-100 index and iShares MSCI Emerging Markets ETF
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| Amount: | $2 million
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| Maturity: | Jan. 2, 2025
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| Coupon: | 7% annualized, payable each month that each underlier closes at or above 60% of its initial level on the observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any underlier finishes below 60% of initial level, in which case full exposure to loss of least performing underlier
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| Call option: | At par plus any coupon on any quarterly coupon payment date beginning in June 2020
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| Initial index levels: | 3,782.27 for Stoxx, 8,770.979 for Nasdaq and $45.07 for ETF
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| Trigger levels: | 60% of initial levels
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| Pricing date: | Dec. 27
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| Settlement date: | Dec. 31
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.95%
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| Cusip: | 40056XYR1
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