By Wendy Van Sickle
Columbus, Ohio, April 29 – GS Finance Corp. priced $1.34 million of callable contingent coupon notes due April 29, 2024 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 six months, the notes pay a contingent coupon if each index’s closing level is greater than or equal to 65% of its initial level on the observation date for that period. The contingent coupon rate will be 5.35% per year.
Beginning in April 2020, the notes are callable at par on any coupon payment date.
The payout at maturity will be par plus the final coupon unless either index finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the lesser performing index.
Goldman Sachs & Co. LLC 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 S&P 500
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| Amount: | $1,342,000
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| Maturity: | April 29, 2024
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| Coupon: | 5.35% per year; payable quarterly if each index’s closing level is greater than or equal to 65% of initial level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either index finishes below 65% of its initial level, in which case investors will be fully exposed to the loss of the lesser performing index
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| Call option: | Beginning in April 2020, at par on any coupon payment date
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| Initial levels: | 2,927.25 for S&P and 1,588.132 for Russell
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| Pricing date: | April 24
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| Settlement date: | April 29
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.46%
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| Cusip: | 40056F6K6
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