Chicago, Dec. 14 – GS Finance Corp. priced $930,000 of callable contingent coupon index-linked notes due April 12, 2027 tied to the S&P 500 index, 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 semiannual coupon at an annual rate of 6.8% if the index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes will be callable at the option of the issuer on any semiannual valuation date after one year at par plus any coupon otherwise due.
If the notes are not called and the index closes at or above 85% of initial value, the payout will be par plus the final coupon.
Otherwise, investors will be exposed to the index’s decline from its initial level beyond the 15% buffer.
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 index: | S&P 500 index
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| Amount: | $930,000
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| Maturity: | April 12, 2027
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| Coupon: | 6.8% annualized rate, payable semiannually if the index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above trigger buffer level, par plus the final coupon; otherwise, investors will lose 1% for every 1% index decline beyond the 15% buffer
|
| Call: | At par plus any coupon due on any semiannual review date after one year at option of issuer
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| Initial index level: | 4,481.15
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| Coupon trigger level: | 75% of initial level
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| Buffer level: | 85% of initial level
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| Pricing date: | April 6
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| Settlement date: | April 11
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057LQ53
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