By Susanna Moon
Chicago, Feb. 28 – GS Finance Corp. priced $447,000 of autocallable contingent coupon notes due Aug. 28, 2018 linked to the lesser performing of 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 at an annual rate of 6.25% if each index closes at or above its 70% coupon barrier on the determination date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any interest payment date from August 2017 through May 2018.
The payout at maturity will be par plus the final coupon unless either index finishes below its 70% barrier 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: | $447,000
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Maturity: | Aug. 28, 2018
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Contingent coupon: | 6.25% annualized, payable quarterly if each index closes at or above 70% coupon barrier on the determination date for that quarter
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Price: | Par
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Payout at maturity: | Par if each index finishes above 70% barrier level; otherwise 1% loss for each 1% decline of worse performing index
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Call: | At par if each index closes at or above its initial level on any coupon payment date from August 2017 through May 2018
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Initial levels: | 2,363.81 for S&P and 1,394.623 for Russell
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Barriers: | 1,654.667 for S&P and 976.2361 for Russell; 70% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co.
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Fees: | 1.15%
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Cusip: | 40054KV60
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