By William Gullotti
Buffalo, N.Y., June 2 – GS Finance Corp. priced $1.39 million of callable contingent coupon index-linked notes due Feb. 13, 2023 tied to the Nasdaq-100 index, 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 quarterly coupon at an annual rate of 7.55% if each index closes at or above the coupon trigger level, 60% of the initial level, on the valuation date for that period.
The notes may be called at par plus the coupon on any quarterly coupon observation date.
The payout at maturity will be par if all of the indexes finish above their initial levels.
Investors will also be paid par if no index closes below its 60% trigger buffer level during the life of the notes.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1,393,000
|
| Maturity: | Feb. 13, 2023
|
| Coupon: | 7.55% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if all indexes finish above initial level; par if no index finishes below trigger buffer level during the life of the notes; otherwise, full exposure to losses of worst performer
|
| Call option: | At par plus coupon on any quarterly call observation date
|
| Initial index levels: | 4,201.62 for S&P, 2,241.421 for Russell, 13,613.73 for Nasdaq
|
| Trigger buffer levels: | 60% of initial levels
|
| Coupon trigger levels: | 60% of initial levels
|
| Pricing date: | May 6
|
| Settlement date: | May 11
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.34%
|
| Cusip: | 40057HAV2
|
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