By William Gullotti
Buffalo, N.Y., July 20 – GS Finance Corp. priced $1.01 million of callable contingent coupon index-linked notes due June 2, 2026 tied 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.
The notes will pay a contingent quarterly coupon at an annual rate of 5.25% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if the index closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and the index closes at or above 70% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will be fully exposed to index decline from its initial level.
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: | S&P 500 index
|
| Amount: | $1,014,000
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| Maturity: | June 2, 2026
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| Coupon: | 5.25% annualized rate, payable quarterly if the index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger buffer level, par plus the final coupon; otherwise, investors will lose 1% for every 1% index decline from initial level
|
| Call: | At par plus coupon if the index closes at or above its initial level on any quarterly call observation date after one year
|
| Initial index levels: | 4,200.88
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| Trigger buffer levels: | 70% of initial levels
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| Coupon trigger levels: | 70% of initial levels
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| Pricing date: | May 27
|
| Settlement date: | June 2
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.54%
|
| Cusip: | 40057H6L9
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