By Angela McDaniels
Tacoma, Wash., Nov. 17 – GS Finance Corp. priced $2.34 million of callable buffered monthly range accrual notes due Oct. 31, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest accrues at an annualized rate of 8.15% for each day that the index closes at or above the 85% coupon barrier. Interest is payable monthly.
The notes will be callable at par on any interest payment date after one year.
If the notes are not called and the final index level is greater than or equal to 85% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered monthly range accrual notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $2,342,000
|
| Maturity: | Oct. 31, 2028
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| Coupon: | 8.15% per year multiplied by proportion of days on which index closes at or above 85% of initial index level; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final index level is less than buffer level, in which case 1% loss for every 1% that index declines beyond 15%
|
| Call option: | At par on any monthly interest payment date after one year
|
| Initial level: | 1,657.003
|
| Buffer level: | 85% of initial level
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 40057WJG3
|
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