By Devika Patel
Knoxville, Tenn., April 10 – GS Finance Corp. priced $4.31 million of callable contingent coupon notes due March 31, 2021 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 month, the notes pay a contingent coupon at the rate of 5.7504% per year if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that month.
The notes are callable at par of $1,000 on any contingent coupon payment date beginning in March 2018 and ending in February 2021.
The payout at maturity will be par plus the final coupon payment unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Amount: | $4,305,000
|
| Maturity: | March 31, 2021
|
| Coupon: | 5.7504% per year, payable monthly if each index closes at or above 60% of initial levels on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index declines by more than 40%, in which case full exposure to losses of lesser-performing index
|
| Call option: | At par on any interest payment date from March 2018 through February 2021
|
| Initial levels: | 1,371.645 for Russell 2000 and 2,361.13 for S&P 500
|
| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 3.55%
|
| Cusip: | 40054KY67
|
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