New Issue: GS Finance sells $15 million trigger callable contingent yield notes on indexes

By Wendy Van Sickle

Columbus, Ohio, March 5 – GS Finance Corp. priced $15 million of trigger callable contingent yield notes due Dec. 1, 2023 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at a rate of 9.6% per year if each index closes at or above its coupon barrier, 70% of its initial level, on every day during that quarter.

The notes are callable at par of $10 plus any coupon due on any quarterly coupon payment date after six months.

If the notes are not called and each index finishes at or above its downside threshold, 55% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

The notes are guaranteed by Goldman Sachs Group Inc.

Goldman Sachs & Co. LLC is the underwriter, and UBS Financial Services Inc. is the selling agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group Inc.
Issue:	Trigger callable contingent yield notes
Underlying indexes:	Euro Stoxx 50, Russell 2000 and S&P 500
Amount:	$15 million
Maturity:	Dec. 1, 2023
Coupon:	9.6% per year, payable quarterly if each index closes at or above its coupon barrier on every day during that quarter
Price:	Par of $10
Payout at maturity:	If each index finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing index’s final level is below initial level
Call option:	At par plus any coupon due on any quarterly coupon payment date after six months
Initial levels:	2,954.22 or S&P 500, 1,476.431 for Russell 2000 and 3,329.49 for Stoxx
Coupon barriers:	2,067.954 for S&P 500, 1,033.502 for Russell 2000 and 2,330.643 for Stoxx, or 70% of initial levels
Downside thresholds:	1,642.821 for S&P 500, 812.037 for Russell 2000 and 1,181.22 for Stoxx or 55% of initial levels
Pricing date:	Feb. 28
Settlement date:	March 4
Underwriter:	Goldman Sachs & Co. LLC
Selling agent:	UBS Financial Services Inc.
Fees:	1.25%
Cusip:	36259H575

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