By William Gullotti
Buffalo, N.Y., Aug. 10 – GS Finance Corp. priced $2.18 million of callable contingent coupon index-linked notes due Aug. 2, 2027 tied to the Dow Jones industrial average, the S&P 500 Value index and the Russell 2000 Value 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 quarterly coupon at an annual rate of 7% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due if each index closes at or above its initial index level on any quarterly call observation date.
If each index finishes at or above the coupon trigger, the payout at maturity will be par plus the final coupon.
If any index lags below the coupon trigger, but all finish at or above the 60% trigger buffer level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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 indexes: | S&P 500 Value index, Russell 2000 Value index, Dow Jones industrial average
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| Amount: | $2,181,000
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| Maturity: | Aug. 2, 2027
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| Coupon: | 7% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above coupon trigger level, par plus the final coupon; if any index lags below coupon trigger but all finish at or above trigger buffer, par; otherwise lose 1% for every 1% decline of the worst performer from initial level
|
| Call: | At par plus any coupon due if each index closes at or above its initial level on any quarterly call observation date
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| Initial index levels: | 1,463.65 for S&P Value, 2,386.943 for Russell Value, 34,930.93 for Dow
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| Trigger buffer levels: | 60% of initial levels
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| Coupon trigger levels: | 70% of initial levels
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057HX70
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