By Devika Patel
Knoxville, Tenn., Oct. 17 – GS Finance Corp. priced $7.68 million of callable buffered contingent coupon notes due Oct. 17, 2019 linked to the S&P 500 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 7% if each underlying’s closing level is greater than or equal to 70% of its initial level on the observation date for that month.
The notes are callable at par on any coupon payment date from October 2017 to September 2019.
The payout at maturity will be par unless the return of either underlying is less than negative 30%, in which case investors will lose 1.4286% for every 1% that the lesser-performing underlying declines beyond 30%.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable buffered contingent coupon notes
|
| Underlyings: | S&P 500 index and iShares MSCI Emerging Markets ETF
|
| Amount: | $7,681,000
|
| Maturity: | Oct. 17, 2019
|
| Contingent coupon: | 7% per year, payable monthly if each underlying closes at or above buffer level on observation date for that monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlying finishes below 70% of initial level, in which case 1.4286% loss for each 1% lower performing underlying falls beyond 30%
|
| Call: | At par on any coupon payment date after October 2017
|
| Initial levels: | 2,132.55 for S&P 500 and $36.82 for EM
|
| Buffer levels: | 70% of initial levels
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 18
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.275%
|
| Cusip: | 40054KMH6
|
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