By William Gullotti
Buffalo, N.Y., Jan. 4 – GS Finance Corp. priced $4.21 million of callable contingent coupon index-linked notes due Dec. 28, 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 semiannual coupon at an annual rate of 8% 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 callable at the option of the issuer on any semiannual valuation date at par plus any coupon otherwise due.
If the notes are not called and the index finishes at or above 70% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will be fully exposed to the index’s 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
|
| Underlying index: | S&P 500 index
|
| Amount: | $4,212,000
|
| Maturity: | Dec. 28, 2026
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| Coupon: | 8% annualized rate, payable semiannually if the index closes at or above coupon trigger level on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger buffer level, par plus final coupon; otherwise, investors will lose 1% for every 1% index decline from initial level
|
| Call option: | At par plus any coupon due on any semiannual review date
|
| Initial index level: | 4,746.75
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| Trigger buffer level: | 70% of initial level
|
| Coupon trigger level: | 70% of initial level
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40057XES0
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