By Susanna Moon
Chicago, July 12 – GS Finance Corp. priced $387,000 of callable buffered monthly range accrual notes due June 30, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at an annual rate of 5.5% for each day that the index closes at or above the barrier level, 80% of the initial level. Interest is payable monthly.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for each 1% decline beyond 20%.
The notes will be callable at par on any interest payment date after one year.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable buffered monthly range accrual notes
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| Underlying index: | Russell 2000
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| Amount: | $387,000
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| Maturity: | June 30, 2023
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| Coupon: | 5.5% annualized for each day that index closes at or above 80% barrier, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss for every 1% that index declines beyond 20%
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| Call option: | At par on any interest payment date beginning in June 30, 2018
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| Initial level: | 1,425.269
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| Barrier level: | 1,140.2152, 80% of initial level
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.875%
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| Cusip: | 40054LEA8
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