By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – GS Finance Corp. priced $385,000 of callable buffered range accrual notes due Feb. 28, 2025 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest will accrue at a rate of 6.1% per year for each day that the index closes at or above 80% of its initial index level. Interest is payable monthly.
The notes are callable at par on any interest payment date beginning on Aug. 31, 2018.
The payout at maturity will be par if the index finishes at or above 80% of its initial level.
Otherwise, investors lose 1% for each 1% decline of the index beyond 20%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable buffered monthly range accrual notes
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| Underlying indexes: | Russell 2000
|
| Amount: | $385,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 6.1% annualized for each day that index closes at or above 80% coupon barrier, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss per 1% drop of index beyond 20%
|
| Call option: | At par plus interest on any interest payment date on or after Aug. 31, 2018
|
| Initial index level: | 1,383.681
|
| Coupon barrier: | 1,106.9448; 80% of initial level
|
| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 4.9%
|
| Cusip: | 40054LNP5
|
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