By Wendy Van Sickle
Columbus, Ohio, May 25 – GS Finance Corp. priced $556,000 of autocallable contingent coupon equity-linked notes due June 7, 2017 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly payment at an annualized rate of 10% if the shares close at or above the 74% threshold level on the observation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the stock closes at or above the initial price on any determination date.
The payout at maturity will be par plus the final coupon unless the shares finish below the 74% threshold level, in which case investors will be exposed to any declines.
Goldman Sachs & Co. and JPMorgan are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $556,000
|
| Maturity: | June 7, 2017
|
| Coupon: | 10%, payable quarterly if stock closes at or above barrier price, 74% of initial share price, on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is at least 74% of initial share price, par plus contingent coupon; otherwise, full exposure to decline in share price
|
| Call: | Automatically at par plus contingent coupon if shares close at or above initial share price on any quarterly determination date
|
| Initial share price: | $95.22
|
| Final share price: Average of stock’s closing share prices on five trading days ending April 5, 2017
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Agents: | Goldman Sachs & Co. and J.P. Morgan Securities LLC
|
| Fees: | 1.1%
|
| Cusip: | 40054KCQ7
|
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