By Tali Rackner
Minneapolis, June 7 – GS Finance Corp. priced $637,000 of callable contingent coupon notes due May 31, 2028 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent quarterly coupon if each index closes at or above 70% of its initial level on the related observation date. The coupon rate will be 7% annually for the first 20 coupon payment dates, 10% for the next 12 dates and 12% for the final eight dates.
The notes are callable at par on any coupon payment date after one year.
If each index finishes at or above 70% of its initial level, the payout at maturity will be par plus the final coupon.
If either index declines by more than 30% but less than 55%, the payout will be par. Otherwise, the payout will be par plus the return of the lesser-performing index with full exposure to losses.
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 index, S&P 500 index
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| Amount: | $637,000
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| Maturity: | May 31, 2028
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| Coupon: | Payable each quarter that each index closes at or above 70% of its initial level on related observation date. Coupon rate is 7% annually for first 20 quarterly payment dates, 10% for next 12 dates and 12% for final eight dates
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above 70% of its initial level; par if either index falls by more than 30% but less than 55%; otherwise, par plus the return of the lesser-performing index with full exposure to losses
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| Call option: | At par on any coupon payment date after one year
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| Initial levels: | 1,623.649 for Russell and 2,689.86 for S&P
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| Pricing date: | May 29
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| Settlement date: | May 31
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.2%
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| Cusip: | 40055Q4H2
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