New York, Oct. 20 – GS Finance Corp. priced $7.33 million of contingent income callable securities due Oct. 17, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.15% per year, paid quarterly, if the index closes at or above its 65% downside threshold on the corresponding valuation date.
The securities may be called at par, at the issuer’s option, on any quarterly observation date.
If the index finishes at or above its downside threshold, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the index declines from initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income callable securities
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| Underlying index: | S&P 500 index
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| Amount: | $7,326,000
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| Maturity: | Oct. 17, 2024
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| Coupon: | 9.15% per year, paid quarterly if the index closes at or above its 65% downside threshold on the corresponding valuation date
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| Price: | Par
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| Payout at maturity: | If index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that index declines from initial level
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| Call option: | At par on any quarterly observation date
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| Initial level: | 3,583.07
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| Downside threshold: | 2,328.9955, 65% of initial level
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| Pricing date: | Oct. 14
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| Settlement date: | Oct. 19
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.5%
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| Cusip: | 40057NKV8
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