By Wendy Van Sickle
Columbus, Ohio, July 27 – GS Finance Corp. priced $1 million of autocallable index-linked notes due July 24, 2028 tied to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a fixed quarterly coupon at an annual rate of 9.5% for the first year.
After the first year, the notes will be called at par plus a 9.5% annualized premium if the indexes close at or above their initial levels on a quarterly observation date.
If the notes are not called, the payout at maturity will be par plus 85.5% if each index closes at or above its initial level.
If the lesser performing index finishes below its initial level but at or above its trigger level, 50% of its initial level, the payout at maturity will be par.
If either index falls by more than 50%, investors will be exposed to any losses of the worst-performing index.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $1 million
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| Maturity: | July 24, 2028
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| Coupon: | 9.5% annualized, payable quarterly for first year only
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 85.5%; if lowest performing index finishes below its initial level but at or above trigger level, par; if either index falls by more than 50%, par plus return of worst-performing index, with full exposure to losses
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| Call: | At par plus 9.5% per year if both indexes close at or above initial levels on a quarterly observation date after one year
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| Initial levels: | 3,460.03 for Stoxx, 1,696.808 for Russell
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| Trigger levels: | 50% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 24
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| Agent: | Goldman Sachs & Co.
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| Fees: | 4.3%
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| Cusip: | 40055QNB4
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