By Kiku Steinfeld
Chicago, March 7 – GS Finance Corp. priced $150,000 of callable contingent coupon index-linked notes due March 18, 2024 linked to the lesser performing of the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, 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 annual rate of 9% if each fund closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly coupon payment date.
The payout at maturity will be par unless either fund finishes below its 75% barrier, in which case investors will lose 1% for each 1% decline of the worst performing fund 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 funds: | iShares Silver Trust and VanEck Vectors Gold Miners ETF
|
| Amount: | $150,000
|
| Maturity: | March 18, 2024
|
| Coupon: | 9% annual rate, payable quarterly if each fund closes at or above coupon barrier on corresponding observation date
|
| Price: | Par
|
| Payout at maturity: | Par if both funds finish above barrier levels; otherwise 1% for each 1% decline of worse performing fund from initial level
|
| Call option: | At par plus any coupon due on any quarterly coupon payment date
|
| Initial levels: | $21.99 for Silver, $32.11 for Gold
|
| Coupon barriers: | 75% of initial levels
|
| Barrier levels: | 75% of initial levels
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 16
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 40057JJV9
|
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