By Sarah Lizee
Olympia, Wash., Aug. 17 – GS Finance Corp. priced $7.67 million of callable contingent coupon index-linked notes due Nov. 9, 2021 linked to the Russell 2000 Value index and the Russell 2000 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 annualized rate of 8.25% if each index closes at or above its 75% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due on any coupon payment date.
If the notes are not called, the payout will be par plus any final coupon due if each index finishes at or above 75% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worse performing index beyond 25%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | Russell 2000 Value, Russell 2000
|
| Amount: | $7,673,000
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| Maturity: | Nov. 9, 2021
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| Contingent coupon: | 8.25% per year, payable quarterly if each index closes at or above coupon trigger level on determination date for period
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon if each index finishes at or above its buffer level; otherwise, 1% loss for every 1% decline of the worse performing index beyond 25%
|
| Call option: | At par plus any contingent coupon due on any coupon payment date
|
| Initial index levels: | 1,517.213 for Russell, 1,516.241 for Russell Value
|
| Coupon triggers: | 75% of initial levels
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| Buffer levels: | 75% of initial levels
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| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 7
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.45%
|
| Cusip: | 40057CM24
|
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