By Wendy Van Sickle
Columbus, Ohio, April 23 – GS Finance Corp. priced $390,000 of callable contingent coupon index-linked notes due April 24, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each six months, the notes pay a contingent coupon at an annual rate of 6.75% if the index 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 coupon payment date.
The payout at maturity will be par plus any final coupon unless the index closes below 70% of its initial level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $390,000
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| Maturity: | April 24, 2023
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| Coupon: | 6.75%, payable each six months that index closes at or above coupon trigger level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon, if any, unless the index closes below 70% of its initial level, in which case investors will lose 1% for every 1% that the index declines from initial level
|
| Call option: | At par plus any coupon due on any coupon payment date
|
| Initial index level: | 2,874.56
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| Coupon trigger level: | 70% of initial level
|
| Pricing date: | April 17
|
| Settlement date: | April 24
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 40056YZA5
|
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