By Sarah Lizee
Olympia, Wash., Nov. 1 – GS Finance Corp. priced $545,000 of callable contingent coupon notes due Oct. 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 75% of its initial level on the observation date. The coupon will be 6% per year for the first 20 coupon payment dates, 8% per year for the next 12 coupon payment dates and 13.5% per year for the final eight coupon payment dates.
The notes are callable at par on any coupon payment date after six months.
The payout at maturity will be par unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $545,000
|
| Maturity: | Oct. 31, 2028
|
| Coupon: | 6% per year for the first 20 coupon payment dates, 8% per year for the next 12 coupon payment dates and 13.5% per year for the final eight coupon payment dates; payable quarterly if each index closes at or above 75% of its initial level on the observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index
|
| Call option: | At par on any coupon payment date after six months
|
| Initial levels: | 1,477.306 for Russell, 2,641.25 for S&P
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.45%
|
| Cusip: | 40056E4B1
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