By Susanna Moon
Chicago, March 7 – GS Finance Corp. priced $2.44 million of callable contingent coupon notes due Feb. 22, 2023 linked to the least 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 semiannual coupon at an annual rate of 10.7% if each index closes at or above its 55% coupon barrier on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par unless either index finishes below its 55% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying assets: | Russell 2000 and S&P 500
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| Amount: | $2,443,000
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| Maturity: | Feb. 22, 2023
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| Coupon: | 10.7% annualized, payable semiannually if each index closes at or above 55% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 55% downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly determination date from August 2018 through August 2022
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| Initial levels: | 1,543.551 for Russell and 2,732.22 for S&P
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| Trigger levels: | 55% of initial levels
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 26
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.8%
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| Cusip: | 40055AGW1
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