By Kiku Steinfeld
Chicago, Jan. 10 – GS Finance Corp. priced $1.51 million of callable contingent coupon index-linked notes due Jan. 3, 2025 linked 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 5% if the index closes at or above 70% of its initial level on the related observation date.
The notes are callable at par plus any coupon due on any coupon payment date beginning in January 2021 and ending in October 2024.
The payout at maturity will be par plus any final coupon unless the index closes below 60% of its final level, in which case investors will lose 1% for every 1% that the index declines from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,512,000
|
| Maturity: | Jan. 3, 2025
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| Coupon: | 5%, payable each quarter that index closes at or above 70% of initial level on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon due, unless index declines by more than 40%, in which case 1% loss for every 1% that index declines from initial level
|
| Call option: | At par plus any coupon due on any coupon payment date beginning in January 2021 and ending in October 2024
|
| Initial index level: | 3,221.29
|
| Coupon trigger level: | 70% of initial level
|
| Trigger level: | 60% of initial level
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 3
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.08%
|
| Cusip: | 40056XUL8
|
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