By Sarah Lizee
Olympia, Wash., Dec. 31 – GS Finance Corp. priced $639,000 of callable contingent coupon index-linked notes due Dec. 30, 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 semiannual coupon at an annualized rate of 6% if each index closes at or above its 80% 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 June 2020.
The payout will be par if each index finished at or above 80% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worse performing index beyond 20%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $639,000
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| Maturity: | Dec. 30, 2024
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| Contingent coupon: | 6% per year, payable semiannually if each index closes at or above coupon trigger level on determination date
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| Price: | Par
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| Payout at maturity: | Par if each index finished at or above 80% of its initial level; otherwise, 1% loss for every 1% decline of the worse performing index beyond 20%
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| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date beginning in June 2020
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| Initial index levels: | 1,671.902 for Russell, 3,221.22 for S&P
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| Coupon trigger levels: | 80% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.85%
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| Cusip: | 40056XTD8
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