By Tali Rackner
Norfolk, Va., July 8 – GS Finance Corp. priced $19.04 million of trigger autocallable contingent yield notes due June 29, 2018 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the ETF closes at or above its coupon barrier, 80% of its initial level, on any quarterly coupon determination date.
The notes will be automatically called at par if the ETF closes at or above its initial price on any call observation date.
The payout at maturity will be par unless the ETF finishes below its 80% downside threshold, in which case investors will be fully exposed to any losses.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlier: | SPDR S&P 500 ETF Trust
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| Amount: | $19,037,370
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| Maturity: | June 29, 2018
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| Coupon: | 8% per year, payable quarterly if ETF closes at or above its coupon barrier on any quarterly coupon determination date
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| Price: | Par of $10
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| Payout at maturity: | Par unless ETF finishes below downside threshold level, in which case full exposure to losses
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| Call option: | Automatically at par quarterly if ETF closes at or above initial price on any observation date
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| Initial price: | $203.22
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| Barrier/downside threshold: | $162.58; 80% of initial price
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| Pricing date: | June 28
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| Settlement date: | June 30
|
| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.65%
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| Cusip: | 36250Y338
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