By Sarah Lizee
Olympia, Wash., Jan. 9 – GS Finance Corp. priced $669,000 of callable contingent coupon notes due Jan. 6, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 6% if the index’s closing level is greater than or equal to 65% of the initial level on the observation date for that quarter.
The notes are callable at par on any coupon payment date beginning in July.
The payout at maturity will be par unless the index declines by more than 35%, in which case investors will lose 1% for every 1% that the index declines from the initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
|
| Underlying index: | S&P 500
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| Amount: | $669,000
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| Maturity: | Jan. 6, 2026
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| Coupon: | 6%, payable quarterly if index’s closing level is greater than or equal to 65% of initial level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless index declines by more than 35%, in which case 1% loss for every 1% that index declines from initial level
|
| Call option: | At par on any coupon payment date beginning in July
|
| Initial level: | 3,257.85
|
| Pricing date: | Jan. 2
|
| Settlement date: | Jan. 7
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.25%
|
| Cusip: | 40056XUZ7
|
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