By Wendy Van Sickle
Columbus, Ohio, May 15 – GS Finance Corp. priced $1.11 million of callable contingent coupon notes due Nov. 17, 2022 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.
Each six months, the notes pay a contingent coupon if each index’s closing level is greater than or equal to 70% of its initial level on the observation date for that period. The contingent coupon rate will be 7.4% per year.
The notes are callable at par on any coupon payment date.
If the notes are not redeemed, the payout at maturity will be par unless either index finishes below 70% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1.11 million
|
| Maturity: | Nov. 17, 2022
|
| Coupon: | 7.4% per year; payable semiannually if each index’s closing level is greater than or equal to 70% of initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 70% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index from its initial level
|
| Call option: | Beginning in August, at par on any coupon payment date
|
| Initial levels: | 2,881.40 for S&P and 1,572.993 for Russell
|
| Pricing date: | May 10
|
| Settlement date: | May 17
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 40056FEP6
|
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