By Sarah Lizee
Olympia, Wash., May 13 – GS Finance Corp. priced $1.1 million of callable contingent coupon notes due May 14, 2029 linked to the Euro Stoxx 50 index and 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.
Each quarter, the notes pay a contingent coupon if each index’s closing level is greater than or equal to 70% of its initial level on the observation date for that period. The contingent coupon rate will be 8.45% per year.
Beginning in May 2020, the notes are callable at par on any coupon payment date.
If the notes are not redeemed, the payout at maturity will be par unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Euro Stoxx 50 and S&P 500
|
| Amount: | $1.1 million
|
| Maturity: | May 14, 2029
|
| Coupon: | 8.45% per year; payable quarterly if each index’s closing level is greater than or equal to 70% of initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index from its initial level
|
| Call option: | Beginning in May 2020, at par on any coupon payment date
|
| Initial levels: | 2,870.72 for S&P and 3,350.71 for Stoxx
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| Pricing date: | May 9
|
| Settlement date: | May 14
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.85%
|
| Cusip: | 40056FH57
|
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