By Kiku Steinfeld
Chicago, Jan. 25 – GS Finance Corp. priced $7.57 million of callable contingent coupon equity-linked notes due Jan. 20, 2023 linked to the common stock of FedEx Corp. according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 12.8% if the stock closes at or above 70% of its initial level on the related observation date.
The notes are callable at par plus any coupon due on any quarterly coupon payment date.
The payout at maturity will be par plus any final coupon unless the stock closes below 70% of its initial level, in which case investors will lose 1% for every 1% that the stock declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon equity-linked notes
|
| Underlying stock: | FedEx Corp.
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| Amount: | $7,570,000
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| Maturity: | Jan. 20, 2023
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| Coupon: | 12.8% per year, payable each quarter that stock closes at or above coupon trigger level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon; unless the stock finishes below 70% of its initial level, in which case investors will lose 1% for every 1% that the stock declines from initial level
|
| Call option: | At par plus any coupon due on any quarterly coupon payment date
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| Initial stock level: | $256.27
|
| Coupon trigger level: | 70% of initial level
|
| Barrier level: | 70% of initial level
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.925%
|
| Cusip: | 40057F4Y7
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