By William Gullotti
Buffalo, N.Y., April 5 – GS Finance Corp. priced $3.13 million of callable contingent coupon index-linked notes due April 5, 2027 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 quarterly coupon at an annual rate of 6.5% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
After one year, the notes will be callable at the option of the issuer on any quarterly valuation date at par plus any coupon otherwise due.
If the notes are not called and the index closes at or above 70% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will be fully exposed to index 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 indexes: | S&P 500 index
|
| Amount: | $3,131,000
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| Maturity: | April 5, 2027
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| Coupon: | 6.5% annualized rate, payable quarterly if the index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger buffer level, par plus the final coupon; otherwise, investors will lose 1% for every 1% index decline from initial level
|
| Call: | At par plus any coupon due on any quarterly review date after one year
|
| Initial index levels: | 4,530.41
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| Trigger buffer levels: | 70% of initial levels
|
| Coupon trigger levels: | 70% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.8%
|
| Cusip: | 40057LCL3
|
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