By Devika Patel
Knoxville, Tenn., April 25 – GS Finance Corp. priced $9.93 million of callable contingent coupon notes due April 28, 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.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that quarter.
The notes are callable at par on any contingent coupon payment date beginning in October 2017 and ending in October 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 from its initial level.
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.
|
| Amount: | $9,931,000
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| Maturity: | April 28, 2021
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| Coupon: | 10% per year, payable quarter if each index closes at or above 50% of initial levels on determination date for that quarter
|
| 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 from initial level
|
| Call option: | At par on any interest payment date from October 2017 and ending in October 2020
|
| Initial levels: | 1,379.854 for Russell 2000 and 2,348.69 for S&P 500
|
| Pricing date: | April 21
|
| Settlement date: | April 28
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 2.45%
|
| Cusip: | 40054L3Z5
|
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