Chicago, March 11 – GS Finance Corp. priced $4.5 million of callable contingent coupon index-linked notes due March 7, 2023 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.
The notes will pay a contingent monthly coupon at an annualized rate of 12.65% if each index closes at or above its 75% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due on any coupon payment date from June 2020 to February 2023.
If the notes are not called, the payout will be par plus any final coupon due if each index finishes at or above 70% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worse performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $4,500,000
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| Maturity: | March 7, 2023
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| Contingent coupon: | 12.65% per year, payable monthly if each index closes at or above coupon trigger level on determination date for period
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon if each index finishes at or above its 70% buffer level; otherwise, 1% loss for every 1% decline of the worse performing index
|
| Call option: | At par plus any contingent coupon due on any coupon payment date from June 2020 to February 2023
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| Initial index levels: | 1,518.491 for Russell, 3,090.23 for S&P
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| Coupon trigger levels: | 75% of initial levels
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | March 2
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| Settlement date: | March 5
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.85%
|
| Cusip: | 40056YQH0
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