By Angela McDaniels
Tacoma, Wash., June 10 – GS Finance Corp. priced $700,000 of 0% autocallable securities due May 31, 2019 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a premium of 12.3% per year if each index closes at or above its call level on June 7, 2017 or May 25, 2018. For each index, the call level is 100% of the initial level on the first call observation date and 95% of the initial level on the second call observation date.
If the notes are not called and the return of each index is greater than or equal to negative 10%, the payout at maturity will be par plus 36.9%.
If the return of each index is greater than or equal to negative 25% but the return of either index is less than negative 10%, the payout will be par.
If the return of either index is less than negative 25%, investors will be exposed to the decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable securities
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| Underlying indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $700,000
|
| Maturity: | May 31, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of each index is greater than or equal to negative 10%, plus 36.9%; if return of each index is greater than or equal to negative 25% but return of either index is less than negative 10%, par; if return of either index is less than negative 25%, exposure to decline of lesser-performing index from initial level
|
| Call: | Automatically at par plus 12.3% if each index closes at or above initial level on June 7, 2017 or at par plus 24.6% if each index’s closing level is at least 95% of initial level on May 25, 2018
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| Initial index levels: | 3,061.60 for Euro Stoxx 50 and 2,090.54 for S&P 500
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| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 2.5%
|
| Cusip: | 40054KCB0
|
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