By Sarah Lizee
Olympia, Wash., Jan. 24 – GS Finance Corp. priced $4.02 million of callable contingent coupon notes due Jan. 12, 2024 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 50% of its initial level on the related observation date. The contingent coupon will be 11.3% per year.
The notes are callable at par on any payment date beginning in July 2019 and ending in July 2023.
The payout at maturity will be par plus the final coupon unless either index finishes below 50% 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: | $4,016,000
|
| Maturity: | Jan. 12, 2024
|
| Coupon: | 11.3% per year, payable quarterly if each indexes close at or above 50% of its initial level on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless either index finishes below 50% 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 beginning in July 2019 and ending in July 2023
|
| Initial levels: | 1,482.501 for Russell, 2,670.71 for S&P
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.3%
|
| Cusip: | 40056ES25
|
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