Chicago, Dec. 19 – GS Finance Corp. priced $2.5 million of callable contingent coupon index-linked notes due Dec. 9, 2024 linked to the least performing of the Dow Jones industrial average, the Euro Stoxx 50 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 quarterly coupon at an annualized rate of 7% if each index closes at or above its 75% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date beginning in March 2020 and ending in September 2024.
If each index finishes above 50% of its initial level, the payout will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | Dow Jones industrial average, Euro Stoxx 50 and Russell 2000
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| Amount: | $2,500,000
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| Maturity: | Dec. 9, 2024
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| Contingent coupon: | 7% per year, payable quarterly if each index closes at or above coupon trigger level on quarterly determination date
|
| Price: | Par
|
| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date beginning in March 2020 and ending in September 2024
|
| Payout at maturity: | If each index finishes above 50% of its initial level, par plus coupon; otherwise, full exposure to decline of the least performing index
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| Initial index levels: | 27,649.78 for Dow, 3,660.02 for Stoxx and 1,613.896 for Russell
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| Coupon trigger levels: | 75% of initial levels
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| Trigger buffer levels: | 50% of initial levels
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.85%
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| Cusip: | 40056XR99
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