By Devika Patel
Knoxville, Tenn., March 28 – GS Finance Corp. priced $9,813,000 of callable contingent coupon notes due March 31, 2021 linked to the worse 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.
Every six months, the notes pay a contingent coupon at the rate of 5% per year if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that semiannual period.
The notes are callable at par of $1,000 on any contingent coupon payment date beginning in September 2017 and ending in September 2020.
The payout at maturity will be par plus the final coupon payment unless any index finishes below 50% of its initial level, in which case investors will lose 1% for each 1% decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $9,813,000
|
| Maturity: | March 31, 2021
|
| Coupon: | 5% per year, payable semiannually if each index closes at or above 50% of initial levels on determination date for that semiannual period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index declines by more than 50%, in which case 1% loss for each 1% decline of lesser-performing index
|
| Call option: | At par on any interest payment date beginning in September 2017 and ending in September 2020
|
| Initial levels: | 1,354.642 for Russell 2000 and 2,343.98 for S&P 500
|
| Pricing date: | March 24
|
| Settlement date: | March 31
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 2.45%
|
| Cusip: | 40054KY83
|
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