By Kiku Steinfeld
Chicago, Aug. 20 – GS Finance Corp. priced $5.57 million of callable contingent coupon index-linked notes due Jan. 27, 2025 tied 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.
Every six months, the notes pay a contingent coupon at a rate of 5% per year if each index closes at or above 55% of its initial level on any semiannual observation date.
The notes are callable at par plus any coupon on any coupon payment date.
If the notes are not redeemed, the payout at maturity will be par plus the coupon, unless either index finishes below 55% 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 index-linked notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $5,565,000
|
| Maturity: | Jan. 27, 2025
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| Coupon: | 5% per year; payable every six months that each index closes at or above 55% of its initial level on any semiannual observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon, unless either index finishes below 55% of initial level, in which case full exposure to loss of least performing index
|
| Call option: | At par plus any coupon on any coupon payment date
|
| Initial index levels: | 2,976.61 for S&P, 1,547.896 for Russell
|
| Trigger levels: | 55% of initial levels
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| Coupon barrier levels: | 55% of initial levels
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| Pricing date: | July 19
|
| Settlement date: | July 26
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.85%
|
| Cusip: | 40056FQQ1
|
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