By Devika Patel
Knoxville, Tenn., April 2 – GS Finance Corp. priced $1.5 million of callable contingent coupon notes due March 4, 2021 linked to the worse performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at the rate of 8.65% per year if each index closes at or above 80% of its initial level on the observation date for that month.
The notes are callable at par of $1,000 on any contingent coupon payment date from March 2019 through February 2021.
The payout at maturity will be par plus the final coupon payment unless any index finishes below 80% of its initial level, in which case investors will lose 1.25% for each 1% decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $1.5 million
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| Maturity: | March 4, 2021
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| Coupon: | 8.65% per year, payable monthly if each index closes at or above 80% of initial levels on determination date for that month
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index declines by more than 20%, in which case 1.25% loss for each 1% decline of lesser-performing index from initial level
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| Call option: | At par on any interest payment date from March 2019 through February 2021
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| Initial levels: | 1,512.446 for Russell 2000 and 3,438.96 for Euro Stoxx 50
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 0.525%
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| Cusip: | 40055AP76
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