By Devika Patel
Knoxville, Tenn., June 30 – GS Finance Corp. priced $5.17 million of autocallable contingent coupon notes due July 6, 2027 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.
The notes will pay a contingent quarterly coupon of 5.65% if each index closes at or above its 60% coupon trigger level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date beginning in June 2018 and ending in March 2027.
The payout at maturity will be par plus the final coupon unless either index falls more than 40%, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
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: | $5,169,000
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Maturity: | July 6, 2027
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Contingent coupon: | Contingent quarterly coupon of 5.65% if each component closes at or above coupon trigger level on the determination date for that quarter
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Price: | Par
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Payout at maturity: | If return of each index is greater than negative 40%, par plus contingent coupon; otherwise 1% loss for each 1% decline of worse-performing index from initial level
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial levels on any quarterly determination date beginning in June 2018 and ending in March 2027
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Initial index levels: | 2,419.38 for S&P 500 and 1,403.522 for Russell 2000
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Coupon trigger levels: | 1,451.628 for S&P 500 and 842.1132 for Russell 2000; 60% of initial levels
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | Goldman, Sachs & Co.
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Fees: | 3.95%
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Cusip: | 40054LEZ3
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