By Kiku Steinfeld
Chicago, Feb. 10 – GS Finance Corp. priced $731,000 of callable contingent coupon notes due July 29, 2027 linked to the worst performing of the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each month, the notes pay a contingent coupon at the rate of 4.0008% per year if each asset closes at or above its barrier level, 80% of its initial level, on the observation date for that period.
The notes are callable at par plus any coupon otherwise due on any contingent coupon payment date beginning in January 2021 and ending in June 2027.
The payout at maturity will be par plus the final coupon unless either asset finishes below 80% of its initial level, in which case investors will be fully exposed to the decline of the least-performing asset.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Issue: | Callable contingent coupon notes
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| Underlying assets: | Russell 2000 index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Amount: | $731,000
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| Maturity: | July 29, 2027
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| Coupon: | 4.0008% per year, payable monthly if each asset closes at or above 80% of initial levels on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless either asset declines by more than 20%, in which case full exposure to losses of least-performing asset
|
| Call option: | At par plus any coupon on any interest payment date beginning in January 2021 and ending in June 2027
|
| Initial levels: | 1,662.232 for index, $20.44 for ETF
|
| Barrier levels: | 80% of initial levels
|
| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.75%
|
| Cusip: | 40056YBR4
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