By Sarah Lizee
Olympia, Wash., March 1 – GS Finance Corp. priced $638,000 of callable contingent coupon notes due Feb. 28, 2029 linked to the Russell 2000 index and 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 quarter, the notes pay a contingent coupon if each index’s closing level is greater than or equal to 75% of its initial level on the observation date for that period. The contingent coupon rate will be 7% per year.
Beginning in February 2020, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to the loss of the lesser performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $638,000
|
| Maturity: | Feb. 28, 2029
|
| Coupon: | 7% per year; payable quarterly if each index’s closing level is greater than or equal to 75% of initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to the loss of the lesser performing index
|
| Call option: | Beginning in February 2020, at par on any coupon payment date
|
| Initial index levels: | 1,577.483 for Russell and 2,793.90 for S&P
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 28
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.67%
|
| Cusip: | 40056EWF1
|
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