By Wendy Van Sickle
Columbus, Ohio, March 29 – GS Finance Corp. priced $2.51 million of callable contingent coupon notes due March 30, 2026 linked to the S&P 500 index and 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 7.6% if each index closes at or above 60% of its initial level on the determination date.
The notes will be callable at par on any observation date after one year.
The payout at maturity will be par plus the final coupon, unless either index closes below 60% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. is the underwriter.
| 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 indexes: | Russell 2000 and S&P 500
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| Amount: | $2,505,000
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| Maturity: | March 30, 2026
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| Coupon: | 7.6%, payable each quarter that each index closes at or above 60% of initial level on determination date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, unless either index closes below 60% trigger level, in which case full exposure to loss of lesser performing index
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| Call option: | At par on any observation date after one year
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| Initial index levels: | 2,588.26 for S&P and 1,510.083 for Russell
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.9%
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| Cusip: | 40055ATB3
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