By Devika Patel
Knoxville, Tenn., April 11 – GS Finance Corp. priced $2.51 million of callable contingent coupon notes due April 12, 2019 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at the rate of 8% per year if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par of $1,000 on any contingent coupon payment date from July 12, 2016 through Jan. 12, 2019.
The payout at maturity will be par unless either index finishes below 31% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Amount: | $2.51 million
|
| Maturity: | April 12, 2019
|
| Coupon: | 8% per year, payable quarter if each index closes at or above 70% of initial level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index declines by more than 31%, in which case full exposure to losses of lesser-performing index
|
| Call option: | At par on any interest payment date from July 12, 2016 through Jan. 12, 2019
|
| Initial levels: | 1,092.785 for Russell 2000 and 2,041.91 for S&P 500
|
| Pricing date: | April 7
|
| Settlement date: | April 12
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.85%
|
| Cusip: | 40054KAF3
|
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