By Tali Rackner
Minneapolis, May 18 – GS Finance Corp. priced $3.55 million of 10-year CMS rate-linked notes due May 22, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final level of the 10-year CMS rate is greater than or equal to 3.15%, the payout at maturity will be $1,090 per $1,000 principal amount.
If the final level is less than 3.15% but greater than or equal to its initial level, the payout will be par.
Otherwise, the payout will be the greater of the par plus the reference return and the minimum settlement amount of $950 per $1,000 principal amount.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Notes
|
| Underlying rate: | 10-year CMS rate
|
| Amount: | $3.55 million
|
| Maturity: | May 22, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level is greater than or equal to 3.15%, $1,090 per $1,000 principal amount; par if final level is less than 3.15% but greater than or equal to initial level; otherwise, greater of par plus reference return and minimum settlement amount of 95% of par
|
| Initial level: | 2.932%
|
| Pricing date: | April 19
|
| Settlement date: | April 26
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.9%
|
| Cusip: | 40055AXH5
|
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