By Wendy Van Sickle
Columbus, Ohio, March 17 – GS Finance Corp. priced $6.35 million of callable contingent coupon notes due March 17, 2020 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its barrier level, 65% of its initial level, on the observation date for that quarter.
The notes are callable at par of $1,000 on any contingent coupon payment date from March 2018 through December 2019.
The payout at maturity will be par plus the final coupon payment unless either index finishes below 35% of its initial level, in which case investors will be fully exposed to the loss of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $6.35 million
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| Maturity: | March 17, 2020
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| Coupon: | 7.25% per year, payable on a quarter if each index closes at or above 65% of initial level on determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either index declines by more than 35%, in which case full exposure to decline of lesser-performing index
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| Call option: | At par on any interest payment date from March 2018 through December 2019
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| Initial levels: | 1,362.379 for Russell and 2,365.45 for S&P
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| Pricing date: | March 14
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| Settlement date: | March 17
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 0.5%
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| Cusip: | 40054KZY5
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