By William Gullotti
Buffalo, N.Y., Aug. 20 – GS Finance Corp. priced $562,000 of 0% callable contingent coupon underlier-linked notes due July 10, 2025 linked to the lesser performing of the Russell 2000 index, the S&P 500 index and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be a quarterly contingent coupon at an annual rate of 5.7% if each underlier finishes above its 60% coupon trigger level on the related observation date.
The company can redeem the notes at its option at par plus any coupon due on any quarterly coupon payment date starting after one year.
If the return of each underlier greater than or equal to negative 40%, the payout will be par plus the final coupon.
If any underlier falls by more than 40%, investors will be fully exposed to the decline of the least performer.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon underlier-linked notes
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| Underlying assets: | Russell 2000 index, S&P 500 index, ARK Innovation ETF
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| Amount: | $562,000
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| Maturity: | July 10, 2025
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| Coupon: | 5.7% annual rate, payable quarterly if all underliers finish above coupon trigger levels on related observation date
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon if all underliers finish above trigger buffer levels; otherwise, full exposure to losses of worst performer
|
| Call option: | At par plus any coupon due on any quarterly coupon payment date starting after one year
|
| Initial levels: | 2,295.948 for Russell, 4,246.44 for S&P, $121.02 for ETF
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| Coupon trigger levels: | 60% of initial levels
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | June 22
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| Settlement date: | June 25
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 40057HP38
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