By Kiku Steinfeld
Chicago, Sept. 30 – GS Finance Corp. priced $500,000 of callable contingent coupon equity-linked securities due Nov. 4, 2025 linked to the worst performing of 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 pay a contingent quarterly coupon at an annualized rate of 4.7% if each index closes at or above its coupon barrier level, 65% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly call valuation date after one year.
If the notes are not redeemed early and each index finishes at or above 65% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index
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| Amount: | $500,000
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| Maturity: | Nov. 4, 2025
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| Contingent coupon: | 4.7% per year, payable quarterly if each index closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above final barrier, par plus final coupon; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly call valuation date after one year
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| Initial levels: | 35,405.24 for Dow, 4,546.54 for S&P
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| Coupon barrier levels: | 65% of initial levels
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| Barrier levels: | 65% of initial levels
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| Pricing date: | Feb. 1
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| Settlement date: | Feb. 4
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057KZN6
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