By Wendy Van Sickle
Columbus, Ohio, Jan. 29 – GS Finance Corp. priced $1.37 million of callable buffered monthly range accrual notes due Jan. 29, 2021 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at 5.5% annualized for each day that the index closes at or above the barrier level, 80% of the initial index level. Interest will be payable monthly.
If the index return is positive or falls by up to 20%, the payout at maturity will be par. Investors will lose 1% for every 1% decline beyond 20%.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable monthly range accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $1.37 million
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| Maturity: | Jan. 29, 2021
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| Coupon: | 5.5% annualized for each day that the index closes at or above the barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if index closes at 80% of initial level or more; 1-to-1 exposure to losses beyond 20%
|
| Call option: | At par on any interest payment date beginning Jan. 29, 2017
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| Initial level: | 1,002.747
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| Barrier level: | 802.1976, 80% of initial level
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| Pricing date: | Jan. 27
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| Settlement date: | Jan. 29
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| Agent: | Goldman, Sachs & Co.
|
| Fees: | 4.85%
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| Cusip: | 40054CAT1
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