By Sarah Lizee
Olympia, Wash., Nov. 8 – GS Finance Corp. priced $1.17 million of callable contingent coupon notes due Nov. 5, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon if each index closes at or above its 60% coupon trigger level on the determination date for that period. The coupon will be at an annualized rate of 6%.
Starting November 2020, the notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date.
If each index finishes above 60% of its initial level, the payout will be par plus the final coupon.
Otherwise, the payout will be par plus the return of the lesser performing index with full exposure to the decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $1,168,000
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| Maturity: | Nov. 5, 2024
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| Contingent coupon: | Payable monthly if each index closes at or above 60% coupon trigger level on the determination date for that period; annual coupon rate is 6%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 60% of its initial level, par plus the final coupon; otherwise, par plus the return of the lesser performing index with full exposure to the decline
|
| Call: | Starting November 2020, at par plus any contingent coupon at issuer’s option on any coupon payment date
|
| Initial index levels: | 1,562.452 for Russell, 3,037.56 for S&P
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 5
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.15%
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| Cusip: | 40056XGA8
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