By Jennifer Chiou
New York, Jan. 22 - Goldman Sachs Group, Inc. priced $32 million of 0% callable exchangeable equity-linked notes due Jan. 24, 2020 tied to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are callable beginning on Jan. 26, 2018. If called, the redemption price will be the greater of the exchange value on the redemption notice date or $950 per $1,000 principal amount of notes, payable in shares of Apple stock or, at the issuer's option, in cash.
The exchange value on any trading day will be the product of the exchange rate times the closing price of the stock on that date. The exchange rate is 1.49434.
The notes are also exchangeable in whole or in part for a number of shares of Apple stock equal to the exchange rate or, at the issuer's option, the exchange value in cash.
If the notes are not called or exchanged, the payout at maturity will be the average of the averaging date prices on the three consecutive trading days ending on the determination date, payable in cash. Each averaging date price will be the greater of the exchange value on that date or $950 per $1,000 principal amount.
Goldman Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable exchangeable equity-linked notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $32 million
|
| Maturity: | Jan. 24, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Average of averaging date prices on the three consecutive trading days ending on Jan. 21, 2020, payable in cash; averaging date prices will be the greater of exchange value on that date or $950 per $1,000 principal amount
|
| Call option: | At par beginning on Jan. 26, 2018
|
| Exchange option: | In whole or in part for a number of shares of Apple stock equal to the exchange rate or, at the issuer's option, the exchange value in cash
|
| Initial share price: | $504.55
|
| Exchange rate: | 1.49434
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 25
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.375%
|
| Cusip: | 38141GMG6
|
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