By Wendy Van Sickle
Columbus, Ohio, Nov. 29 – GS Finance Corp. priced $368,000 of callable contingent coupon notes due Nov. 30, 2023 linked to the least performing of the Dow Jones industrial average, 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 at an annualized rate if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period. The annualized rate is 6% for the first year, 7% for the second year, 8% for the third year and 9% for the fifth year.
The notes will be callable in whole at par on any coupon payment date after one year.
If each index finishes at or above its trigger level, 60% of its initial level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the least-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: | Callable contingent coupon notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $368,000
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| Maturity: | Nov. 30, 2023
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| Contingent coupon: | Payable quarterly if each index closes at or above 60% of its initial level on the observation date for that period; annualized rate is 6% for the first year, 7% for the second year, 8% for the third year and 9% for the fifth year
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 60% barrier level, par plus final coupon; otherwise, full exposure to losses of least-performing index
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| Call option: | At par on any coupon payment date after one year
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| Initial index levels: | 1,492.855 for Russell, 24,748.73 for Dow and 2,682.17 for S&P
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Goldman Sachs & Co.
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| Fees: | 4.975%
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| Cusip: | 40056EFH6
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