By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – GS Finance Corp. priced $3.4 million of callable buffered monthly range accrual notes due June 30, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at an annual rate of 6.85% for each day that the index closes at or above the coupon barrier level, 75% of the initial index level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for each 1% decline beyond 20%.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable buffered monthly range accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $3.4 million
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| Maturity: | June 30, 2024
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| Coupon: | 6.85% for each day that the index closes at or above the coupon barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for every 1% that index declines beyond 20%
|
| Call option: | At par on any interest payment date after one year
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| Initial index level: | 1,360.825
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| Barrier level: | 1,088.66, 80% of initial level
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 30
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| Agent: | Goldman Sachs & Co.
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| Fees: | 4.9%
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| Cusip: | 40054KR73
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