By Devika Patel
Knoxville, Tenn., April 25 – GS Finance Corp. priced $1.22 million of callable contingent coupon notes due April 28, 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.
The notes pay a semiannual contingent coupon at the rate of 6.55% per year if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that period.
The notes are callable at par on any contingent coupon payment date beginning in October 2017 and ending in October 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 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: | $1,215,000
|
| Maturity: | April 28, 2022
|
| Coupon: | 6.55% per year, payable semiannually if each index closes at or above 60% of initial levels on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index declines by more than 40%, 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 from October 2017 to October 2021
|
| Initial levels: | 1,379.854 for Russell 2000 and 2,348.69 for S&P 500
|
| Pricing date: | April 21
|
| Settlement date: | April 28
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 2.25%
|
| Cusip: | 40054L6M1
|
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