By Angela McDaniels
Tacoma, Wash., Feb. 29 – GS Finance Corp. priced $709,000 of callable quarterly range accrual notes due Feb. 28, 2031 linked to six-month Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The interest rate is the applicable rate multiplied by the proportion of days on which the index closes at or above the barrier level, 70% of the initial index level, and six-month Libor is 6% or less. The applicable rate is 6% for the first 32 quarters and 8% for the final 28 quarters. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Feb. 28, 2017, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly range accrual notes
|
| Underlyings: | Six-month Libor and Russell 2000 index
|
| Amount: | $709,000
|
| Maturity: | Feb. 28, 2031
|
| Coupon: | Applicable rate multiplied by proportion of days on which index closes at or above barrier level and six-month Libor is 6% or less; applicable rate is 6% for first 32 quarters and 8% for final 28 quarters; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Feb. 28, 2017
|
| Initial index level: | 1,031.576
|
| Trigger level: | 722.1032, 70% of initial level
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 29
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 5.375%
|
| Cusip: | 40054K2W5
|
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