By Wendy Van Sickle
Columbus, Ohio, April 21 – GS Finance Corp. priced $1.15 million of callable contingent coupon notes due April 24, 2022 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.
Each quarter, the notes pay a contingent coupon at the rate of 7.5% per year if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that period.
The notes are callable at par of $1,000 on any contingent coupon payment date beginning in October 2017 and ending in January 2022.
The payout at maturity will be par plus the final coupon payment unless any index finishes below 60% of its initial 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.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Amount: | $1,153,000
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| Maturity: | April 24, 2022
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| Coupon: | 7.5% per year, payable quarterly if each index closes at or above 60% of initial levels on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index declines by more than 40%, in which case full exposure to losses of lesser-performing index
|
| Call option: | At par on any interest payment date from October 2017 through January 2022
|
| Initial levels: | 1,367.133 for Russell 2000 and 2,338.17 for S&P 500
|
| Pricing date: | April 19
|
| Settlement date: | April 24
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 0.6%
|
| Cusip: | 40054L6K5
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