By Devika Patel
Knoxville, Tenn., Oct. 28 – GS Finance Corp. priced $1.45 million of autocallable contingent coupon notes due Nov. 2, 2021 linked to the S&P 500 index and the Russell 2000 index, 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 coupon of 5.5% if each index closes at or above its 60% barrier level on the determination date for that quarter.
Beginning in October 2017, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable contingent coupon notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $1,445,000
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Maturity: | Nov. 2, 2021
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Contingent coupon: | Contingent quarterly coupon of 5.5% if each component closes at or above 60% barrier level on the determination date for that quarter
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Price: | Par
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Payout at maturity: | If return of each index is postive, par plus contingent coupon; par but no coupon if return of both indexes is negative but greater than negative 40%; otherwise 1% loss for each 1% decline of worse-performing index
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial levels on any quarterly determination date from October 2017 onward
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Initial index levels: | 2,139.43 for S&P 500 and 1,204.749 for Russell 2000
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Barrier levels: | 1,283.658 for S&P 500 and 722.8494 for Russell 2000; 60% of initial levels
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | Goldman, Sachs & Co.
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Fees: | 4.1%
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Cusip: | 40054KMJ2
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