By Sarah Lizee
Olympia, Wash., Aug. 26 – GS Finance Corp. priced $20 million of autocallable contingent coupon notes due Aug. 29, 2028 linked to the worst performing of the S&P 500 Value index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 9.5% if each index closes at or above its coupon barrier, 80% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly coupon determination date after six months.
If the notes are not called and each index finishes at or above its buffer level, 85% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 Value index and Russell 2000
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| Amount: | $20 million
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| Maturity: | Aug. 29, 2028
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| Coupon: | 9.5%, payable quarterly if each index closes at or above coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its buffer level, par; otherwise, 1% loss for every 1% decline of the lesser performing index beyond 15%
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| Call: | Automatically at par if each index closes at or above initial levels on any coupon determination date after six months
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| Initial levels: | 1,140.6 for S&P Value, 1,584.633 for Russell
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| Coupon barrier levels: | 80% of initial levels
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| Buffer levels: | 85% of initial levels
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 27
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 40057CPM7
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