By Marisa Wong
Morgantown, W.Va., June 2 – GS Finance Corp. priced $1.88 million of callable monthly S&P 500 index-linked range accrual notes due May 31, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at 8% for each day that the index closes at or above the coupon barrier level, 70% of the initial index level. Interest will be payable monthly.
If the index return is at least negative 50%, the payout at maturity will be par. If the index falls by more than 50%, investors will be fully exposed to the decline.
The notes will be callable at par on any interest payment date after one year.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable monthly range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,879,000
|
| Maturity: | May 31, 2031
|
| Coupon: | 8% annualized for each day that index closes at or above barrier level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 50%, in which case full exposure to index decline
|
| Call option: | At par on any interest payment date beginning May 31, 2017
|
| Initial level: | 2,090.54
|
| Barrier level: | 1,463.378, 70% of initial level
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.05%
|
| Cusip: | 40054KCD6
|
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