By Wendy Van Sickle
Columbus, Ohio, Nov. 21 – GS Finance Corp. priced $284,000 of contingent coupon notes due Nov. 27, 2023 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.
Each quarter, the notes pay a contingent coupon at an annual rate of 5.1% if the index’s closing level is greater than or equal to 70% of its initial level on the observation date for that period.
The payout at maturity will be par plus the final coupon unless the index declines by more than 30%, investors will lose 1% for every 1% that the index declines from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent coupon notes
|
| Underlying index: | Russell 2000
|
| Amount: | $284,000
|
| Maturity: | Nov. 27, 2023
|
| Coupon: | 5.1%, payable quarterly if index’s closing level is greater than or equal to 70% of initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless index declines by more than 30%, in which case 1% loss for every 1% it declines from initial level
|
| Initial level: | 1,492.822
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 27
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.625%
|
| Cusip: | 40054LYL2
|
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