By Wendy Van Sickle
Columbus, Ohio, June 5 – GS Finance Corp. priced $12.59 million of callable contingent coupon notes due May 31, 2027 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par on any contingent coupon payment date.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to the decline of the worse performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000, S&P 500
|
| Amount: | $12,591,000
|
| Maturity: | May 31, 2027
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| Coupon: | 7% per year, payable quarterly if each index closes at or above 70% coupon barrier on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index falls by more than 50%, in which case full exposure to losses of worse performing index
|
| Call option: | At par on any interest payment date
|
| Initial levels: | 1,382.244 for Russell 2000 and 2,415.82 for S&P 500
|
| Coupon barrier: | 70% of initial levels
|
| Triggers: | 50% of initial levels
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| Pricing date: | May 26
|
| Settlement date: | May 31
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 4.8%
|
| Cusip: | 40054LB60
|
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