By Devika Patel
Knoxville, Tenn., March 28 – GS Finance Corp. priced $5,486,000 of callable contingent coupon notes due March 29, 2022 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 7.1% per year if each index closes at or above its barrier level, 60% 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 beginning in March 2018 and ending in December 2021.
The payout at maturity will be par plus final coupon, if any, unless any index finishes below 50% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $5,486,000
|
| Maturity: | March 29, 2022
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| Coupon: | 7.1% per year, payable quarterly if each index closes at or above 60% of initial levels on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon, if any, unless any index declines by more than 50%, in which case 1% loss for each 1% decline of lesser-performing index from initial level
|
| Call option: | At par on any interest payment date beginning in March 2018 and ending in December 2021
|
| Initial levels: | 1,354.642 for Russell 2000 and 2,343.98 for S&P 500
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 1%
|
| Cusip: | 40054L2Q6
|
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