By William Gullotti
Buffalo, N.Y., Dec. 5 – GS Finance Corp. priced $1.75 million of callable buffered monthly range accrual notes due Nov. 30, 2027 linked to the Russell 2000 index, according to a 424b2 filing with the Securities and Exchange Commission.
Interest will accrue at an annualized rate of 10.6% for each day that the index closes at or above the 85% coupon barrier. Interest is payable monthly.
The notes will be callable at par on any interest payment date after one year.
If the notes are not called, the payout at maturity will be par unless the index finishes below 85% of its initial level, in which case investors will lose 1% for every 1% decline of the index beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $1,745,000
|
| Maturity: | Nov. 30, 2027
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| Coupon: | 10.6% annualized for each day that index closes at or above 85% coupon barrier, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless the index finishes below 85% of its initial level, in which case investors will lose 1% for every 1% decline of the index beyond 15%
|
| Call option: | At par plus interest on any interest payment date after one year
|
| Initial level: | 1,830.964
|
| Coupon barrier: | 85% of initial level
|
| Buffer level: | 85% of initial level
|
| Pricing date: | Nov. 28
|
| Settlement date: | Nov. 30
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 40057NVV6
|
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