By Wendy Van Sickle
Columbus, Ohio, Feb. 13 – GS Finance Corp. priced $1.7 million of callable contingent coupon equity-linked notes due Oct. 15, 2024 linked to the shares of Freeport-McMoRan Inc., 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 quarterly coupon if the stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period. The coupon per $1,000 note will be $30 for the first two payment dates or $20 for the final payment date
The notes are callable at par plus any contingent coupon otherwise due on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 70% barrier level, in which case investors will be fully exposed to decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon equity-linked notes
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| Underlying stock: | Freeport-McMoRan Inc.
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| Amount: | $1.7 million
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| Maturity: | Oct. 15, 2024
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| Coupon: | Payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period; $30 per $1,000 for first two payment dates or $20 for final payment date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case investors will be fully exposed to decline
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| Call: | At par plus any coupon due on any quarterly call valuation date
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| Initial share price: | $38.12
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| Coupon barrier price: | 70% of initial share price
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| Barrier level: | 70% of initial share price
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 13
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057Y3S0
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