By Susanna Moon
Chicago, Sept. 19 – GS Finance Corp. priced $236,000 of autocallable contingent coupon notes due March 19, 2019 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.5% if each index closes at or above its 70% coupon barrier on review date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any interest payment date after one year.
The payout at maturity will be par unless either index finishes below its initial level and ever closes below its 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman Sachs Group, Inc. is the guarantor.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying assets: | S&P 500 index and Russell 2000 index
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| Amount: | $236,000
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| Maturity: | March 19, 2019
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| Coupon: | 5.5% annualized payable quarterly if each index closes at or above 70% coupon barrier on review date that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless either index finishes below its initial level and ever closes below 70% trigger, in which case 1% loss for each 1% decline of worse performing index
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| Call: | At par plus any coupon if each index closes at or above its initial level on any contingent coupon payment date from March 2018 through December 2018
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| Initial levels: | 2,496.48 for S&P and 1,423.463 for Russell
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| Trigger levels: | 1,747.536 for S&P and 996.4241 for Russell; 70% of initial levels
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| Pricing date: | Sept. 12
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| Settlement date: | Sept. 15
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.525%
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| Cusip: | 40054LQN7
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