By Tali Rackner
Norfolk, Va., Dec. 29 – GS Finance Corp. priced $276,000 of callable contingent coupon notes due Dec. 30, 2021 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7% if each index closes at or above 50% of its initial level on the determination date for that quarter.
The notes are callable at par on any coupon payment date beginning in December 2017.
The payout at maturity will be par plus the final coupon unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $276,000
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Maturity: | Dec. 30, 2021
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Coupon: | 7%, payable quarterly if each index closes at or above 50% coupon trigger level on quarterly determination date
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Price: | Par
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Payout at maturity: | Par plus final coupon unless either index finishes below trigger level, in which case full exposure to decline of lesser-performing index
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Call option: | At par on any coupon payment date beginning in December 2017
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Initial index levels: | 1,377.707 for Russell and 2,268.88 for S&P
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Trigger levels: | 50% of initial levels
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Pricing date: | Dec. 27
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Settlement date: | Dec. 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.35%
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Cusip: | 40054KQM1
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