By Wendy Van Sickle
Columbus, Ohio, April 4 – GS Finance Corp. priced $2.98 million of autocallable contingent coupon notes due Oct. 5, 2018 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.75% if each index closes at or above its coupon trigger level, 70% of its initial level, on the observation date for that quarter.
Beginning in September 2017, the notes will be automatically called at par if each index closes at or above its initial level on a quarterly call determination date.
The payout at maturity will be par unless either index finishes below 70% of its initial level any day during the loss of the notes, in which case investors will be fully exposed to the final decline of the worse-performing index, if any.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $2,975,000
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| Maturity: | Oct. 5, 2018
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| Coupon: | 6.75%, payable quarterly if each index closes at or above coupon trigger level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 70% of initial level any day during life of notes and either index finishes below initial level, in which case full exposure to decline of worse-performing index
|
| Call: | Beginning in September 2017, automatically at par if both indexes close at or above initial levels on a quarterly call determination date
|
| Initial index levels: | 2,358.57 for S&P 500 and 1,367.261 for Russell 2000
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| Coupon trigger levels: | 1,650.999 for S&P 500 and 957.0827 for Russell 2000, or 70% of initial levels
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| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.5%
|
| Cusip: | 40054KZ25
|
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