By Wendy Van Sickle
Columbus, Ohio, June 7 – GS Finance Corp. priced $645,000 of autocallable contingent coupon equity-linked notes due June 13, 2018 linked to Bristol-Myers Squibb Co. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock closes at or above the barrier level, 80% of the initial price, on the valuation date for a quarter, the notes will pay a contingent quarterly coupon at an annual rate of 10.1% for that quarter and for any previous quarter for which no coupon was paid.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will lose 1% for each 1% decline.
Goldman Sachs & Co. and J.P. Morgan Securities LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked notes
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| Underlying stock: | Bristol-Myers Squibb Co.
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| Amount: | $645,000
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| Maturity: | June 13, 2018
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| Coupon: | 10.1% per year, payable if shares close at or above barrier level on a quarterly valuation date for that quarter and for any previously unpaid quarters
|
| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus final coupon and any previously unpaid coupons; otherwise, 1% loss for each 1% decline
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly valuation date
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| Initial share price: | $53.97
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| Barrier level: | 80% of initial share price
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | Goldman, Sachs & Co. and J.P. Morgan Securities LLC
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| Fees: | 1.1%
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| Cusip: | 40054DC54
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