By Wendy Van Sickle
Columbus, Ohio, July 8 – GS Finance Corp. priced $1.39 million of callable contingent coupon notes due July 3, 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.
Each quarter, the notes pay a contingent coupon at a rate of 6.25% per year if each index closes at or above 60% of its initial level on the observation date for that period.
The notes are callable at par on any coupon payment date after one year.
If the notes are not redeemed, the payout at maturity will be par plus the coupon, if any, unless either index finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1,392,000
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| Maturity: | July 3, 2024
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| Coupon: | 6.25% per year; payable each quarter that each index closes at or above 60% of its initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon, unless either index finishes below 60% of initial level, in which full exposure to loss of least performing index
|
| Call option: | At par on any coupon payment date after one year
|
| Initial index levels: | 2,941.76 for S&P 500, 1,566.572 for Russell 2000
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| Pricing date: | June 28
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| Settlement date: | July 3
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.07%
|
| Cusip: | 40056FMT9
|
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