By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – GS Finance Corp. priced $3.33 million of callable contingent coupon notes due Jan. 31, 2028 linked to the S&P 500 index and the Russell 2000 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 if each index closes at or above 75% of its initial level on the related observation date. The annual coupon will be 7% for the first 20 payments dates, 10% for the next 12 payment dates and 12% for the final eight payment dates.
The notes are callable at par on any coupon payment date after one year.
The payout at maturity will be par plus the final coupon, any, unless either index declines by more than 50%, in which case investors will lose 1% for every 1% that the lesser-performing index declines 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 S&P 500
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| Amount: | $3,328,000
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| Maturity: | Jan. 31, 2028
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| Coupon: | Payable each quarter that each index closes at or above 75% of initial level on related observation date; annual rate is 7% for first 20 payment dates, 10% for next 12 dates, 12% for final eight dates
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless either index declines by more than 50%, in which case 1% loss for every 1% that lesser-performing index declines from initial level
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| Call option: | At par on any coupon payment date after one year
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| Initial levels: | 1,598.109 for Russell 2000 and 2,853.53 for S&P 500
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.83%
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| Cusip: | 40055ADY0
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