By Kiku Steinfeld
Chicago, Aug. 30 – GS Finance Corp. priced $2 million of callable contingent coupon underlier-linked notes due July 3, 2026 linked to the SPDR S&P 500 ETF Trust, the Euro Stoxx 50 index and 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 annualized rate of 12.6% if each underlier closes at or above 70% of its initial level on each day of that period.
The notes are callable at par plus any coupon on any quarterly coupon payment date.
If the notes are not redeemed early, the payout at maturity will be par plus the coupon unless any underlier finishes below 70% 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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| Underliers: | SPDR S&P 500 ETF Trust, Euro Stoxx 50 index and FedEx Corp.
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| Amount: | $2 million
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| Maturity: | July 3, 2026
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| Coupon: | 12.6% annualized, payable each quarter that each underlier closes at or above trigger level on each day of that period
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| Price: | Par
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| Payout at maturity: | Par plus coupon unless any underlier finishes below trigger 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
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| Initial index levels: | 4,121.12 for index, $426.6165 for ETF, and $292.6366 for stock
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| Coupon trigger levels: | 70% of initial levels
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 8
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.3%
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| Cusip: | 40057HSQ4
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