By Kiku Steinfeld
Chicago, March 19 – GS Finance Corp. priced $3.8 million of callable contingent coupon index-linked notes due March 12, 2030 linked to the S&P 500 index and the Dow Jones industrial average, 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 at an annualized rate of 11% 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 on any coupon payment date from June 2020 to February 2023.
If the notes are not called, the payout will be par plus any final coupon due if each index finishes at or above 70% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worse 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: | S&P 500, Dow Jones industrial average
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| Amount: | $3,803,000
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| Maturity: | March 12, 2030
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| Contingent coupon: | 11% per year, payable monthly if each index closes at or above coupon trigger level on determination date for period
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon if each index finishes at or above its 70% buffer level; otherwise, 1% loss for every 1% decline of the worse performing index
|
| Call option: | At par plus any contingent coupon due on any coupon payment date from June 2020 to February 2023
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| Initial index levels: | 2,972.37 for Russell, 25,864.78 for Dow
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| Coupon trigger levels: | 75% of initial levels
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 12
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.45%
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| Cusip: | 40056YSW5
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