Chicago, April 14 – GS Finance Corp. priced $385,000 of callable contingent coupon index-linked notes due April 14, 2025 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 semiannual coupon at an annualized rate of 7% 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 starting in October and ending in October 2024.
If the notes are not called, the payout will be par plus any final coupon due if each index finishes at or above 75% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worse performing index beyond the 25% buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $385,000
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| Maturity: | April 14, 2025
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| Contingent coupon: | 7% per year, payable semiannually 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 75% of its level; otherwise, 1% loss for every 1% decline of the worse performing index beyond 25% buffer
|
| Call option: | At par plus any contingent coupon due on any coupon payment date beginning in October and ending in October 2024
|
| Initial levels: | 1,052.053 for Russell, 2,488.65 for S&P
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| Coupon trigger levels: | 75% of initial levels
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| Buffer levels: | 75% of initial levels
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| Pricing date: | April 3
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| Settlement date: | April 13
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.85%
|
| Cusip: | 40056YX41
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